Synchronoss enters into joint venture with Verizon to deliver multifactor solution for managing identities online

BRIDGEWATER, N.J. - Thursday, February 4th 2016 [ME NewsWire]

(BUSINESS WIRE)-- Synchronoss Technologies, Inc. (NASDAQ: SNCR), today announced it will expand its enterprise offerings to deliver an advanced user-authentication and identity management solution to enterprises and consumers. As part of this expansion, Synchronoss has entered into a joint venture with Verizon to deliver a multifactor solution for managing identities online.

The joint venture with Verizon adds another complementary component to Synchronoss’ Secure Mobility Platform which was announced in collaboration with Goldman Sachs last November.

Synchronoss Universal ID™ is designed for enterprises, government agencies and consumers, and will provide a faster, easier and more secure way to manage identity in a digital world through a trusted single source. The company plans to integrate the solution into its Synchronoss Secure Mobility Platform, a next-generation platform for multifactor authentication and identity management.

Synchronoss will support current enterprise customers with the solution formerly only available through Verizon, while working to build a newly enhanced platform slated for roll out in the latter half of 2016 for new and current customers.

“We see Synchronoss Universal ID as a valuable addition to our arsenal for keeping a wide range of online identities safe,” said Guru Pai, Senior Vice President and Chief Platform Officer at Verizon. “With Synchronoss’ technology, scalability and global footprint, we recognized an opportunity to take online identity management to the next level and look forward to the potential this presents to deliver enhanced services to enterprises and consumers.”

“Our new venture with Verizon highlights the strength of our relationship, and the potential Synchronoss offers for new initiatives in the enterprise space,” said Stephen Waldis, Chairman, Founder and CEO, Synchronoss. “The addition of Universal ID to our Secure Mobility Suite accelerates our move into the enterprise by enabling frictionless, yet secure identity authentication for work and home.”

About Verizon
Verizon Communications Inc. (NYSE, NASDAQ: VZ) employs a diverse workforce of 177,700 and generated nearly $132 billion in 2015 revenues. Verizon operates America’s most reliable wireless network, with more than 112 million retail connections nationwide. Headquartered in New York, the company also provides communications and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers worldwide.

About Synchronoss
Synchronoss Technologies, based in Bridgewater, NJ, (NASDAQ: SNCR) is the mobile innovation leader that provides cloud solutions, secure mobility, and software-based activation for carriers, retailers, OEMs and enterprises around the world. The company’s proven, scalable and patented technology solutions allow customers to connect, synchronize and activate connected devices and services that empower enterprises and consumers to live in a connected world. For more information, visit us at: www.synchronoss.com.

Contacts

Synchronoss Contacts:

Media:

Stacie Hiras, +1-908-674-0758

Stacie.hiras@synchronoss.com

or

Investor:

Seth Potter, +1-646-277-1230

investor@synchronoss.com

Verizon Contact:

Marie McGehee, +908-559-3884

Marie.mcgehee@verizon.com

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