Synchronoss Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

Synchronoss Strengths, Domain Expertise, and Key Differentiators

Synchronoss Technologies boasts a set of compelling strengths that differentiates it from its competitors. The company's domain expertise is unparalleled, with a deep understanding of the intricacies of personal Cloud solutions. This expertise is mirrored in its product portfolio, which offers a comprehensive suite of tools to meet the diverse needs of service providers.

Synchronoss Recent Developments

In July 2021, Synchronoss Technologies made waves in the tech community by unveiling a significant update to its flagship solution, spatialSUITE. This integrated set of online tools for network design and asset management received a major boost with the introduction of spatialSUITE 8.6. The enhancements mark a pivotal moment for Synchronoss as they streamline the planning, collaboration, implementation, and management of both fiber and hybrid fiber-coaxial (HFC) networks. The spatialSUITE 8.6 update goes beyond mere aesthetic changes; it represents a leap forward in addressing the complexities of modern network infrastructures. The addition of two new products demonstrates Synchronoss' commitment to providing comprehensive solutions that cater to the evolving needs of the industry. As the digital landscape becomes increasingly intricate, Synchronoss is positioning itself as a vanguard, empowering businesses with tools that are not just innovative but essential.

Synchronoss Mergers and Acquisitions (M&A) Activities

The sale of Messaging and NetworkX businesses to Lumine Group for up to $41.8 million is not just a strategic move but a financial one as well. Synchronoss anticipates a boost in its financial metrics, with an expected gross margin exceeding 70% and adjusted EBITDA margins surpassing 25% by the end of fiscal year 2024. These projections signal a robust financial outlook for the company's pure-play, go-forward business. Moreover, the proceeds from the sale will be instrumental in improving Synchronoss' capital structure through the redemption of a portion of its outstanding preferred stock. This strategic use of funds positions the company for further financial stability and flexibility, reinforcing its ability to invest in future growth initiatives recently made waves by strategically realigning its focus, shedding certain businesses, and positioning itself for a more streamlined future in the cloud domain.

Synchronoss Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Synchronoss applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Synchronoss and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Synchronoss Personal Cloud, Synchronoss PSynchronoss Integrated Life, Synchronoss WorkSpace, customers.

Synchronoss Key Enterprise and Cloud Applications

Synchronoss Personal Cloud, Synchronoss PSynchronoss Integrated Life, Synchronoss WorkSpace,

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Synchronoss Direct vs Indirect sales

Synchronoss Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Synchronoss Customers

No. of Synchronoss Customers: 200

No. of Synchronoss Enterprise Applications Customers: 200

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Synchronoss Technologies' strategic move to supply its Personal Cloud solution to Telkomsel has significant implications for its customer base. The addition of such a powerful solution enhances the company's portfolio, making it an attractive proposition for telecom operators globally. Reference customer wins, such as the collaboration with Telkomsel, serve as testimonials to the efficacy of Synchronoss' solutions. The expansion into the Indonesian market exemplifies the company's commitment to catering to diverse customer needs.

Synchronoss customer wins include tier 1 service providers such as: BT Group Plc, General Motors OnStar, Mobifone, AT&T, Verizon Wireless and Vodafone, tier 1 cable operators/MSOs such as Cablevision, Charter Communications, Comcast, and Time Warner Cable and large OEMs such as Apple, Microsoft, and Samsung.

Synchronoss Market Opportunities, M&A and Geo Expansions

In June 2021, Synchronoss Technologies closed an underwritten public offering of 42,307,692 shares of common stock, which included 3,846,154 shares issued in connection with the underwriters’ option to purchase additional shares, at a price to the public of $2.60 per share, for gross proceeds of approximately $110 million. The Company also announced that on June 30, 2021 it closed an underwritten public offering of $125 million aggregate principal amount of 8.375% senior notes due 2026, which included $5 million aggregate principal amount of senior notes issued in connection with the underwriters’ option to purchase senior notes.

Synchronoss partnered with Microsoft to deliver an industry-leading Smart Buildings solution. By leveraging Microsoft Azure and joining Microsoft's Azure IoT solutions accelerator program, Synchronoss offers a best-of-breed Smart Buildings solution to enterprises globally. The collaboration started by delivering a live proof of concept (PoC) to global technology services provider Rackspace, deploying a smart building service to monitor, control, and optimize energy usage and reduce costs at Rackspace's San Antonio headquarters.

Synchronoss launched the Synchronoss Messaging Marketplace Platform a messaging and commerce enabler for Service Providers and Brands. The new platform is a comprehensive, intelligent, transaction enabler that allows businesses to create new revenue streams by extending the commerce-based dialogue to subscribers across a range of messaging platforms.

Synchronoss acquired Intralinks Holdings, and subsequently sold it to Siris Capital Group, LLC, following with the acquisition of Openwave Messaging Inc., which specializes in a messaging platform with a big footprint in Asia Pacific. With this acquisition and combined with Synchronoss's current global coverage, Synchronoss will have direct access to over 3.5 billion subscribers around the world for its flagship personal cloud platform.

Synchronoss Risks and Challenges

Notably, the concentration of a significant portion of revenues with a limited number of customers, as seen in the case of Synchronoss with AT&T and Verizon, poses a substantial business risk. Diversification strategies and a proactive approach to customer retention become crucial in mitigating the impact of potential customer losses. Additionally, external factors such as regulatory changes and geopolitical uncertainties can introduce unforeseen challenges, necessitating a resilient and adaptive business strategy.

Synchronoss Ecosystem, Partners, Resellers and SI

Beyond individual partnerships, Synchronoss Technologies is contributing to the broader ecosystem dynamics. The company's collaboration with the Asia Pacific telecom giant is a prime example of how ecosystem expansion goes beyond technology integrations. It involves navigating complex relationships, fostering innovation, and ultimately contributing to the growth and maturity of the entire IT industry.

Synchronoss and WeAre8, a platform that provides the infrastructure for brands and individuals to build relationships at scale, formed a new partnership that is poised to radically disrupt traditional brand advertising. Together, they are creating a revolutionary channel for brands to create and deliver personalized mobile marketing campaigns that drive results and consumer interaction through the direct sponsorship of consumers. The collaboration will provide a highly scalable pathway to deliver massive benefits to brands consumers, and operators.

Synchronoss market and sell its services primarily through a direct sales force and through its strategic partners in North America, Europe, and Asia-Pacific. To date, it has concentrated its sales efforts on a range of CSPs, OEMs, and multi-channel retailers both domestically and internationally.

Synchronoss teamed up with Amazon to facilitate dynamic customer journeys for mobile subscribers to access Amazon services through a payment relationship with their local operator. These types of high-value service and content partnerships will be critical in helping operators improve customer engagement as they look to help them overcome complexity and generate additional revenue, and for customers, it gives them the option to access services with a credit card or as added value in their plans.

Synchronoss DXP is a unique low-code platform that significantly reduces time-to-market and simplifies IT delivery for any organization looking to transform and optimize its digital customer experience and journeys. Using the DXP tools, companies can create, configure and manage all types of transactions across omnichannel environments, providing them the ability to share real-time customer data, choices and actions across channels, easily integrating with existing systems and users interfaces.

Synchronoss Cloud Infrastructure Insights

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• Synchronoss Public Cloud and Infrastructure (IaaS)
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Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: