Synchronoss to Provide Wholesale Process Automation and Management to Brightspeed

Rhea-AI Summary

Synchronoss Technologies (Nasdaq: SNCR) has signed a multi-year agreement with Brightspeed to support its fiber deployments across 20 states. Brightspeed, expected to serve over six million homes, will utilize Synchronoss's interconnectNOW and Financial Analytics platforms to streamline service requests and manage expenses. With an investment exceeding $2 billion, Brightspeed aims to enhance connectivity in underserved regions, reaching up to three million homes over five years. This partnership will enhance operational efficiency and expedite revenue realization for both companies.

Positive

• Multi-year agreement with Brightspeed, enhancing growth opportunities.
• Brightspeed's planned $2 billion investment to expand fiber network.
• Utilization of state-of-the-art platforms to improve operational efficiency.

Negative

• None.

Relationship to Support Brightspeed’s Planned Fiber Deployments Across 20-State Footprint

Multi-Year Agreement Features interconnectNOW and Financial Analytics
to Help Orchestrate Service Requests and Manage Trading Partner Expense

BRIDGEWATER, N.J., May 09, 2022 (GLOBE NEWSWIRE) -- Synchronoss Technologies Inc. (“Synchronoss” or the “Company”) (Nasdaq: SNCR), a global leader and innovator in cloud, messaging and digital products and platforms, today announced that it has signed a multi-year agreement with Brightspeed, a provider of broadband and telecommunications services expected to have operations in 20 States. Brightspeed will initially be comprised of the incumbent local exchange carrier (ILEC) assets and associated operations of Lumen Technologies (NYSE: LUMN), which are the subject of a pending acquisition by Apollo-managed funds (NYSE: APO).

Brightspeed will utilize two key modules from the Synchronoss networkX Platform - interconnectNOW (iNOW) and Financial Analytics (FA) – for its planned fiber deployments throughout its multi-state territory across rural and suburban regions of the United States.

Brightspeed previously announced plans to invest more than $2 billion to build a network that will bring faster, more reliable Internet and Wi-Fi to communities throughout the Midwest, Southeast, and certain parts of Pennsylvania and New Jersey.   The company's planned fiber optics transformation is expected to reach up to three million homes and businesses over the next five years, including in many places where fiber and advanced technology have not historically been deployed.

“As Brightspeed continues to build out its fiber optics network, iNOW and Financial Analytics will be integral in managing the company’s wholesale carrier operations,” said Chris Hill, Chief Commercial Officer at Synchronoss. “Automating and orchestrating orders throughout the lifecycle will enable Brightspeed to keep pace with customer requests and realize revenue faster.”

“Our partnership with Synchronoss will provide us access to their state-of-the-art platforms to achieve exceptional efficiencies in managing our wholesale carrier orders and trading partner transactions,” said Chris Creager, Chief Administration Officer of Brightspeed. “From end-to-end, iNOW will enable us to track orders and help us deliver world-class connectivity products and services to the communities we look forward to serving.”

The iNOW platform eliminates manual handling of service orders and manages the full lifecycle between customer and supplier via automation and rules-based validation. It provides a single interface and database for all buyer and supplier orders, making it easy to track orders from receipt to fulfillment, reconciles billing, and provides real-time reporting - shortening time to revenue.

The Financial Analytics platform streamlines the management of complex carrier invoicing via automated workflow and intuitive rules engines for auditing, accounting, validation, and payment of invoices. FA empowers service providers such as Brightspeed with the necessary tools and processes to ensure intercarrier expenses are thoroughly analyzed and confirmed prior to payment.

Leading service providers from around the world utilize Synchronoss and the iNOW platform to manage 39 million orders and transactions annually from 5,000 integrated operators.

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.

About Brightspeed

Headquartered in Charlotte, N.C. and expected to have assets and associated operations in 20 states, Brightspeed will provide broadband and telecommunications services through a network platform capable of serving more than six million homes and businesses. The company aims to bridge the digital divide by deploying a state-of-the-art fiber network and a customer experience that makes staying connected simple and seamless. Learn more at www.brightspeed.com.

Synchronoss

Media Relations Contact:
Domenick Cilea
Springboard
dcilea@springboardpr.com

Investor Relations Contact:
Matt Glover / Tom Colton
Gateway Group, Inc.
SNCR@gatewayir.com

Brightspeed

Media Relations Contact:
Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
pr@brightspeed.com

FAQ

What is the recent partnership between Synchronoss and Brightspeed?

Synchronoss has signed a multi-year agreement with Brightspeed to support its fiber deployments across 20 states.

How much is Brightspeed investing in its network expansion?

Brightspeed plans to invest over $2 billion in its network expansion.

What platforms will Brightspeed use from Synchronoss?

Brightspeed will utilize the interconnectNOW and Financial Analytics platforms from Synchronoss.

How many homes and businesses will Brightspeed's fiber network serve?

Brightspeed's fiber network is expected to reach up to three million homes and businesses.

What benefits does the partnership provide for Brightspeed?

The partnership will enhance operational efficiency and expedite revenue realization for Brightspeed.