iQmetrix Goes Global With Close of Synchronoss DXP and Activation Solutions Acquisition
iQmetrix, North America's leading provider of telecom retail management software, announced that it has closed its acquisition of Digital Experience Platform ("DXP") and Activation Solutions ("Activation") from Synchronoss Technologies, Inc. (Nasdaq: SNCR)-a global leader in cloud, messaging, and digital products and platforms.
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The acquisition of the Digital Experience Platform and Activation Solutions retail technologies from Synchronoss, along with the associated employee base, gives iQmetrix its first office in Bangalore, India. Image: iQmetrix/Synchronoss
The purchase of DXP and Activation, valued at $14 million, is an investment that allows iQmetrix to integrate advanced digital retail technology with intelligent retail management, ultimately enabling retailers to deliver exceptional consumer experiences.
The acquisition of these product pillars and associated employee base now gives iQmetrix its first office in Bangalore, India. Approximately 100 employees in India, the US, the UK, Ireland, and Germany will be transitioned into iQmetrix.
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.
"As a trusted provider of intelligent retail management sftware, 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 telecom space."
Joanne Helm, Senior Vice President of Strategy at iQmetrix, added, "This technology acquisition is extremely strategic for our business growth, given our global intentions within telecom. One of the most exciting parts is the amazing individuals that are now iQers! We're excited to welcome over 100 new individuals to the team, with a new iQmetrix office in India as well as remote employees in the USA, UK, Ireland, and Germany. This acquisition officially makes iQmetrix a true global telecom retail management business provider."
Over the coming months, iQmetrix will work with Synchronoss to ensure a smooth transition for both customers and employees.
Jeff Miller, President and Chief Executive Officer of Synchronoss, said, "The sale of DXP and Activation is part of our strategic plan to create a leaner business model that focuses on our core growth areas for the future. Closing this deal is favorable for Synchronoss's long-term product focus areas. It provides us with operating flexibility to improve our capital structure and to accelerate the development of new product offerings in our key areas such as our cloud portfolio."
iQmetrix's intelligent retail management software is designed to power sales of connected devices. 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 robust 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 $16.4BN 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. For more information, please visit www.iqmetrix.com.
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.