One Year After Buying NewBay, RIM Sells The Mobile Cloud Software Developer To Synchronoss Technologies For $55.5M In Cash


RIM could have a little more cash on hand next quarter. The flailing BlackBerry developer has sold its cloud services unit NewBay to Synchronoss Technologies, the provider of automation software, mobility management, and cloud technology solutions. The acquisition price was $55.5 million in cash, and the transaction closed in the fourth quarter of 2012.

It was a short-lived acquisition for RIM, which bought NewBay in October 2011 for $100 million and took a bit of a bath. In August, Reuters rep...

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