Why Is The Synchronoss (SNCR) Stock Expanding Today?

Following selection by a worldwide operator, shares of Synchronoss Technologies Inc. (Nasdaq: SNCR) were up 2.21% to trade at $0.9199 at the time of the most recent check.

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What did the operator choose SNCR for?

In order to provide Synchronoss Personal Cloud to tens of millions of users on its network, Synchronoss (SNCR) today signed a multi-year partnership with one of the biggest worldwide operators. As deployment planning is in progress, this agreement will have an impact on Synchronoss’s financial performance this quarter. As customers take up the service, the agreement will predominantly move to a SaaS-based revenue model.

This international customer is collaborating with SNCR to offer a variety of value-added services, including the capability to back up and manage files, photos, videos, and digital content stored on mobile phones and other devices. This international customer is one of the top providers of mobile devices and communications services in the world.

In the next three to five years, according to SNCR, this customer will grow to be one of its largest cloud deployments because of the service provider’s size and market reach. With the introduction of the SNCR-powered personal cloud solution, operators may increase ARPU, boost customer engagement, and create new income streams.

The partnership marks a significant turning point in the growth of SNCR’s cloud business. In order to increase client value, Synchronoss will keep equipping mobile service providers throughout the world with strategic tools. This multi-year arrangement expands SNCR’s worldwide reach and demonstrates the growing significance of cloud products to top operators.

It also illustrates fresh development potential for its Personal Cloud platform. Most significantly, this operator will be able to forge stronger bonds with its customers and enhance crucial business indicators thanks to the introduction of a customer-branded personal cloud solution.

SNCR will take part in a significant event:

On December 7th at 11:30 AM Eastern time, Synchronoss (SNCR) will give a presentation at the Ladenburg Thalmann Virtual Tech Expo. The presentation will be made by SNCR President and CEO Jeff Miller and CFO Lou Ferraro.