RIM Sells NewBay to Synchronoss
As RIM continues to slim down for 2013, Synchronoss Technologies announced today it has purchased a subsidiary of RIM, NewBay, for $55.5 million. The transaction closed at the end of the fourth quarter of 2012.
It's been a little more than a year since RIM purchased the cloud service NewBay for $100 million.
NewBay's cloud content service allows mobile operators and service providers to deliver content across connected devices such as smartphones, tablets, PCs and TVs. The company's customers include a group-level implementation at Vodafone Group, in addition to Orange, Swisscom and T-Mobile in Europe; AT&T, T-Mobile, Verizon and US Cellular in the U.S.; and LG Electronics and Telstra in Asia.
Synchronoss specializes in activation and mobile content management for mobile devices. In a press release, Synchronoss said its mobile content cloud platform will be able to "leverage many capabilities developed by NewBay, including those related to illicit content protection, legal intercept, copyright, antivirus and transcoding."
The sale should provide a boost to RIM just more than a month short of the launch date of its new Blackberry 10 OS.