Skyview Capital has signed an agreement to acquire Syncplicity – a division of EMC that provides file sync and sharing services. As part of the transaction, EMC will remain an investor in Syncplicity and the EMC salesforce will continue selling Syncplicity as part of the EMC Select partner program. EMC will also remain a Syncplicity customer.
Syncplicity, acquired by EMC in 2012, is an enterprise-grade online file sharing and mobile collaboration service. Syncplicity is used by companies active in an array of industries including technology, health care, financial services, education, law and engineering. The business was founded in 2008 and is based in Santa Clara, CA (www.syncplicity.com).
“Syncplicity’s best of breed, flexible hybrid solution coupled with its tremendous growth under EMC, made this investment decision an easy one for us,” said Alex Soltani, Chairman and CEO of Skyview Capital.
Skyview Capital specializes in the acquisition of technology, telecommunications, business services, and niche manufacturing companies. Targets will typically be divisions, assets, or subsidiaries of Fortune 1000 companies that have revenues of $10 million to $400 million and that are no longer core to their owner’s business strategy. Acquisitions can be geographically located in North America, South America, and Europe. To date, Skyview has completed over 20 transactions within these market and geographic verticals. The firm is headquartered in Beverly Hills (www.skyviewcapital.com).
“Syncplicity has redefined the expectations of file sync and sharing in the enterprise, changing it from an unauthorized rogue application that employees use without IT approval to one that is blessed by IT, and easily integrates with a company’s existing investments in email and storage,” said Jonathan Huberman, the new CEO of Syncplicity. Mr. Huberman is currently the head of portfolio operations for Skyview Capital and is the CEO of other Skyview portfolio companies as well.
EMC sold Syncplicity as the development requirements of the business were not a core strength of EMC. “Syncplicity experienced great momentum as an EMC business in a dynamic and hyper-competitive landscape,” said Jeremy Burton, President of Products and Marketing, EMC Information Infrastructure. “However, the standalone enterprise file sync and share market is evolving rapidly and is continually looking for new end-user features and mobile functionality. This is a step away from EMC’s core infrastructure strength.”
© 2015 PEPD • Private Equity’s Leading News Magazine • 7-9-15