EMC's Syncplicity Business to be Acquired by Skyview Capital; EMC Will Remain a Financial Stakeholder
-- Syncplicity to Accelerate Investment in Growth, Innovation and Enterprise Market Adoption
LOS ANGELES, July 7, 2015 /PRNewswire/ -- Skyview Capital, a global private investment firm, today announced that it has entered into a definitive agreement to acquire the Syncplicity® enterprise file sync and share business from EMC. EMC will retain a financial interest in Syncplicity.
Syncplicity is a leading, enterprise-grade online file sharing and mobile collaboration solution that provides users with experience and tools they desire and gives IT the security and control it needs. Unlike other solutions that force users to store all information in the cloud, Syncplicity gives organizations unmatched flexibility through its hybrid approach. With Syncplicity, IT departments can create rules based on user, group or folder policy to determine whether files should be stored in the cloud or in an on-premise storage array.
Following its acquisition three years ago by EMC, Syncplicity has emerged as a growing standard for companies in a wide variety of industries such as technology, health care, financial services, education, law and engineering services. In addition to broad customer adoption, Syncplicity has been named a leader in both "The Forrester Wave: File Sync and Share Platforms, Q3 2013" and Gartner's 2014 Magic Quadrant for Enterprise File Synchronization and Sharing.
"Syncplicity's best of breed, flexible hybrid solution coupled with its tremendous growth under EMC, made this investment decision an easy one for us. Under our ownership, Syncplicity will maintain its leadership position in this market through the rapid development of new capabilities and continued enhancement of end user experience. We are excited about EMC's continued commitment to Syncplicity's growth, and welcome Syncplicity's employees and customers to the Skyview family," said Alex Soltani, Chairman and CEO of Skyview Capital.
"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, easily integrates with a company's existing investments in email, storage and collaboration solutions and delivers a great user experience," said Jonathan Huberman, the CEO of Syncplicity upon closing of the acquisition. "By focusing exclusively on and investing heavily in this rapidly growing market, Syncplicity has an enormous opportunity to significantly accelerate product innovation, attract a broad ecosystem of partners and resellers and drive customer adoption."
"Syncplicity experienced great momentum as an EMC business in a highly dynamic and hyper-competitive landscape," added Jeremy Burton, President of Products and Marketing, EMC Information Infrastructure. "However, the standalone EFSS market is evolving rapidly; customers are continually looking for new end-user features and functionality to enable their increasingly mobile workforce. This is a step away from EMC's core infrastructure strength. This move is designed to ensure that Syncplicity is adequately positioned for success in the evolving EFSS market and to enable EMC to increase our focus on core EMC Information Infrastructure investments. EMC remains a financial stakeholder and committed to Syncplicity's growth. The EMC salesforce will continue selling Syncplicity as part of the EMC Select partner program and EMC will remain a large-scale Syncplicity customer."
The transaction is subject to customary closing conditions and is expected to close this month. Specific terms of the transaction are confidential.
About Skyview Capital, LLC
Skyview Capital, LLC is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. The Los Angeles Business Journal recently recognized Skyview as one of the top 25 private equity firms in Los Angeles. To date, Skyview has successfully completed over 20 transactions within its target market verticals. For further information, please visit www.skyviewcapital.com.
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