Synchronoss acquires Miyowa

Transaction management software provider Synchronoss Technologies has acquired privately-held French mobile software company Miyowa. Synchronoss will add Miyowa's capacities and technology to its existing mobility platform for connected devices. Miyowa provides social networking from the device to the cloud, instant messaging and sharing digital media across all OS and a range of connected devices. The purchase price of the acquisition is approximately USD 45.5 million in cash. Synchronoss may pay up to an additional USD 13.5 million in cash based on Miyowa's business achieving certain performance targets over the next four quarters. The company expects the transaction to be at least neutral to its non-GAAP earnings per share this year.

Les Echos writes that the move will give Miyowa an opportunity to accelerate sales in the US. The company develops ultra-compressed versions of apps for social networks such as Facebook, Twitter and MSN. It sells these directly to phone operators and now has clients in around 20 countries, split 80/20 between Europe and Asia. The Marseille-based firm added five operators in 2011, taking the total to around 30. Future versions of its software will connect all supports, mobile, fixed, web ant TV. Miyowa broke even with 20 million active users in the middle of 2010 and turned over more than EUR 10 million in 2011. It has raised EUR 10.5 million from TechFund, SophiaEurolab and Credit Agricole. The company will keep its operations in Marseille, Bucharest, San Francisco and Hong Kong and will continue to be run by co-founders Pascal Lorne and Francois Colon.