Synchronoss Renews Partnership with Major French Operator
Rhea-AI Summary
Synchronoss Technologies (NASDAQ: SNCR) has renewed its three-year contract with a major French operator, extending their 8-year partnership. The French service provider, serving over 27 million subscribers, will continue to utilize Synchronoss Personal Cloud to manage, optimize, and share digital content. Synchronoss Personal Cloud is a secure, scalable platform integrating AI and machine learning, offering features like Tagging, Backtrack, and AI photo enhancements. The renewal aims to increase subscriber engagement, ARPU, and reduce churn by providing flexible, tiered cloud solutions. Jeff Miller, President and CEO of Synchronoss, emphasized the platform's value and the potential for new monetization opportunities.
Positive
- Renewed 3-year contract with a major French operator.
- Serves over 27 million subscribers in France.
- Integration of advanced features like AI, machine learning, Tagging, Backtrack, and AI photo enhancements.
- Potential to increase ARPU and reduce churn through flexible, tiered cloud solutions.
Negative
- None.
News Market Reaction
On the day this news was published, SNCR declined 4.65%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Building on an 8-Year Partnership, this Leading Service Provider Will Continue to Utilize Synchronoss Personal Cloud and Enable Subscribers throughout France to Manage, Optimize, and Share All Types of Digital Content
BRIDGEWATER, N.J., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) (NASDAQ: SNCR), a global leader and innovator in personal cloud platforms, today announced a three-year contract renewal with a leading French operator. This service provider operates a high-speed, fixed, and mobile network across France and serves more than 27 million individuals, businesses, communities, and operators. Through the extended partnership, the company will continue to deliver a range of value-added cloud offerings powered by Synchronoss Personal Cloud.
Synchronoss Personal Cloud is a white-label platform that allows service providers to deliver a branded personal cloud solution to centrally backup, sync, and organize a broad range of digital content and files. Purpose-built for service providers, Synchronoss Personal Cloud offers a highly secure and scalable cloud platform that integrates artificial intelligence (AI), machine learning, and other advanced features.
“Expanding our long-standing partnership is a testament to our cloud platform and the value it delivers to this provider’s subscriber base throughout France,” said Jeff Miller, President and CEO of Synchronoss. “We’re excited to enhance the cloud offering with new features such as Tagging, Backtrack and AI photo enhancements that the French carrier will use to drive further subscriber engagement, increase ARPU and reduce churn amongst its subscriber base.”
Unlike some over-the-top (OTT) services, Synchronoss Personal Cloud ensures data security and privacy. It provides the flexibility for operators and service providers to select which capabilities and functionality they want to offer subscribers as part of tiered plans, such as basic, value-added, and premium offerings. As a private-label, branded solution, service providers can monetize the cloud in new ways, offering subscribers upgrade options to better engage with digital content, thus reducing churn and increasing average revenue per user (ARPU).
About Synchronoss
Synchronoss Technologies (Nasdaq: SNCR), a global leader in personal Cloud solutions, empowers service providers to establish secure and meaningful connections with their subscribers. Our SaaS Cloud platform simplifies onboarding processes and fosters subscriber engagement, resulting in enhanced revenue streams, reduced expenses, and faster time-to-market. Millions of subscribers trust Synchronoss to safeguard their most cherished memories and important digital content. Explore how our Cloud-focused solutions redefine the way you connect with your digital world at www.synchronoss.com.
Media Relations Contact:
Domenick Cilea
Springboard
dcilea@springboardpr.com
Investor Relations Contact:
Ryan Gardella
ICR for Synchronoss
SNCRIR@icrinc.com
FAQ
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