Synchronoss Technologies is a mobile cloud innovation and software-based activation provider for mobile carriers.
Voxmobile is the wholly owned subsidiary of OnMobile Global Ltd, and provides personal cloud solutions to many of the world's leading mobile operators.
The deal will allow Synchronoss to boost its position as a leading provider of personal cloud solutions, the company said. When the acquisition is complete over 30 mobile operators across the globe will be using Synchronoss platforms.
Separately, TheStreet Ratings team rates SYNCHRONOSS TECHNOLOGIES as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SYNCHRONOSS TECHNOLOGIES (SNCR) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, reasonable valuation levels and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."