Synchronoss Buys FusionOne
Wade Roush7/8/10
FusionOne, a 12-year-old maker of software for transferring contact information and other content between mobile phones, will be purchased by Bridgewater, NJ-based Synchronoss (NASDAQ: SNCR), the companies said yesterday. Synchronoss, which makes systems that automate new-subscriber activation on mobile networks, will pay $40 million up front for FusionOne ($32 million of that in cash, and $8 million in stock), plus up to $35 million in milestone-based payments. FusionOne had raised $140 million in venture funding from investors that included El Dorado Ventures, BlueRun Ventures (formerly Nokia Ventures) and Vesbridge Partners, according to VentureWire.
