VANCOUVER, British Columbia — iQmetrix, the leading provider of telecom retail management software in North America, announced that it has completed the 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.
The acquisition of DXP and Activation, valued at $14 million, is an investment that will enable 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 workforce now gives iQmetrix its first office in Bangalore, India. About 100 employees in India, US, UK, Ireland and Germany will be migrated to iQmetrix.
DXP and Activation enable telecom operators and retailers around the world 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 software, iQmetrix is the natural choice for the Digital Experience Platform and Activation Solutions,” said Ryan Volberg, President and Chief Executive Officer of iQmetrix. “We are very excited as this supports our plans to be the number one globally in personal connected devices. In such a relentlessly changing industry, this is the next big step for many that we are eager 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 intent in telecom. One of the most exciting parts is the amazing individuals who are now iQers! We are delighted to welcome over 100 new individuals to the team, with a new iQmetrix office in India and remote staff in the US, UK, Ireland and Germany. This acquisition officially makes iQmetrix a true global provider of telecom retail management companies.”
Over the coming months, iQmetrix will partner 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 key growth areas for the future. The deal is beneficial to Synchronoss’ long-term product focus areas, providing us with operational flexibility to improve our capital structure and 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 drive sales of connected devices. Our software aims to enable 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.
For 22 years we have been passionate about helping the leading brands in telecom grow by providing the best software, services and expertise that enable them to adapt and thrive. Our solutions generated $16.4 billion in revenue last year and are used by 300,000 telecom retail professionals at more than 1,000 customers. iQmetrix is a privately held software-as-a-service (SaaS) company with offices in Canada and the US. For more information, visit www.iqmetrix.com†
Synchronoss Technologies (Nasdaq: SNCR) builds software that helps businesses around the world 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 accelerate speed to market. Hundreds of millions of subscribers rely on 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 every day for a synchronized world. More information on www.synchronoss.com†
Joannah Connolly, iQmetrix