Crédit Agricole Private Equity Sells Miyowa to Synchronoss Technologies

Crédit Agricole Private Equity, along with investment partners Techfund and Sophia Euro Lab, has completed the sale of Miyowa to Synchronoss Technologies, Inc. Miyowa, a significant player in mobile social networking and messaging software, was acquired for an initial payment of $45.5 million in cash, with potential additional payments contingent on future performance.

Marseille-based Miyowa specializes in mobile applications connecting online communities. The company, supported by Crédit Agricole Private Equity since 2008, has demonstrated substantial revenue growth and achieved consistent profitability. It currently employs 72 individuals and serves clients such as Orange, HTC, Samsung, and ZTE, while also partnering with major social media and messaging platforms like Facebook, Twitter, and Windows Live.

Stephen G. Waldis, CEO of Synchronoss, stated that Miyowa's technology will enhance their platform by integrating social networking capabilities, offering customers a more unified and user-friendly social media solution. Pascal Lorne, CEO of Miyowa, expressed enthusiasm about joining Synchronoss, highlighting the combined entity's potential for global reach and growth in the mobile, cloud, and social media sectors.

This strategic acquisition is expected to bolster Synchronoss's offerings in mobile device management and cloud services. The investors noted that Miyowa's successful development, marked by growth and profitability, exemplifies the criteria for significant transactions and positions Miyowa for expanded deployment of its solutions.