Synchronoss Technologies Inc (NASDAQ:SNCR, FRA:H6K0) has been acquired by Lumine Group, a subsidiary of Canada’s Constellation Software, marking a new chapter for the US-based communications software provider.
Lumine Group, which is backed by Constellation Software, completed the purchase of Synchronoss through one of its wholly owned subsidiaries on Friday, the companies said.
Synchronoss, founded in 2000, has worked with global telecommunications operators for more than two decades. The company initially built its business around service activation solutions and has since shifted toward a portfolio centered on Tier 1 operator-branded personal cloud services.
In recent years, Synchronoss undertook a cloud-first transformation aimed at strengthening its core operations and aligning its long-term strategy with the evolving needs of communications service providers worldwide.
Lumine Group, listed on the TSX Venture Exchange, describes itself as a “buy-and-hold forever” acquirer focused on communications and media software businesses. The acquisition expands its footprint in cloud-based platforms serving major telecom operators.
Constellation Software, one of Canada’s most prominent serial acquirers of vertical market software companies, has built a reputation for acquiring and operating businesses with a long-term ownership approach.