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iQmetrix, a telecom retail management software leader, announced its acquisition of Digital Experience Platform (DXP) and Activation Solutions from Synchronoss Technologies (NASDAQ: SNCR) for approximately $14 million. This strategic purchase aims to enhance iQmetrix's capabilities in delivering exceptional consumer experiences when buying and activating connected devices. The deal is expected to close in Q2 2022, allowing iQmetrix to integrate advanced digital retail technology and streamline customer experiences across multiple channels.
Positive
Transaction valued at $14 million, enhancing iQmetrix's service offerings.
Acquisition enables integration of advanced digital retail technology.
Expected to significantly improve consumer experiences in buying and activating devices.
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None.
VANCOUVER, British Columbia--(BUSINESS WIRE)--
iQmetrix, North America’s leading provider of telecom retail management software, has announced that it has entered into a definitive agreement to purchase Digital Experience Platform (“DXP”) and Activation Solutions (“Activation”) from Synchronoss Technologies, Inc. (Nasdaq: SNCR)—a global leader and innovator in cloud, messaging, and digital products and platforms.
The acquisition of digital retail assets from Synchronoss will help iQmetrix clients elevate consumers’ experience of buying and activating connected devices. Image: iQmetrix
The transaction is valued at approximately $14 million and is expected to close in the second quarter of 2022. The purchase of DXP and Activation is an investment that allows iQmetrix to integrate advanced digital retail technology with intelligent retail management, ultimately enabling retailers to deliver exceptional consumer experiences.
DXP and Activation enable telecom operators and retailers around the globe to create, orchestrate, and manage digital experiences across all channels. Using a low-code approach, DXP allows users to easily create, integrate, and publish customer journeys and experiences through simple drag-and-drop configurations.
Over the coming months, iQmetrix will work with Synchronoss to ensure a smooth transition for both customers and employees.
“As a trusted provider of intelligent retail management software, iQmetrix is the natural acquirer of choice for the Digital Experience Platform and Activation Solutions,” said Ryan Volberg, President and Chief Executive Officer of iQmetrix. “We’re very excited as this supports our plans to be the number-one enabler of personal connected devices globally. In such a relentlessly changing industry, this is the next big step of many that we’re excited to take to help us create great experiences in the telco space.”
Theresa Rowsell, Vice President of Product at iQmetrix, said, “The addition of DXP and Activation will fuel our innovation to build products that disrupt the experience of buying and activating connected consumer electronics.”
Jeff Miller, President and Chief Executive Officer of Synchronoss, said, “Our mission at Synchronoss is to develop innovative software platforms that help customers manage their digital content across an array of devices. The sale of DXP and Activation assets provides a benefit to everyone involved. Customers will gain from iQmetrix’s experience as an industry leader in retail and point-of-sale solutions, while we now have additional capacity to focus on our core growth initiatives.”
About iQmetrix
iQmetrix’s intelligent retail management software is designed to power the telecom industry. Our software is built around enabling telecom retailers to deliver a buy-anywhere strategy through multi-channel inventory management and digital retail solutions; make data-driven decisions using powerful reporting; and unify storefronts and digital channels for a consistent customer experience, in-store, online, and anywhere else. For 22 years, we’ve been passionate about helping the leading brands in telecom to grow by providing best-in-class software, services, and expertise that enables them to adapt and thrive. Our solutions powered $16.4 billion in sales last year and are used by 300,000 telecom retail professionals across 1,000-plus clients. iQmetrix is a privately held software-as-a-service (SaaS) company with offices in Canada and the U.S. Learn more at www.iqmetrix.com.
About Synchronoss
Synchronoss Technologies (Nasdaq: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services, and content they love. That’s why more than 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com.
