EMC to sell file syncing and sharing service unit Syncplicity to Skyview Capital
08 Jul 2015
Storage hardware company EMC today struck a deal to sell its file syncing and sharing service unit Syncplicity, to private investment firm Skyview Capital for an undisclosed sum.
Skyview said that EMC will retain a financial interest in Syncplicity.
Founded in 2008, Syncplicity was acquired by EMC in 2012 for undisclosed terms.
Unlike other cloud-based service providers that force users to store all information in the cloud, Syncplicity allows companies to store their data in-house and later move specific files into the cloud.
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.
''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,'' 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, CEO of Syncplicity.
The transaction is subject to customary closing conditions and is expected to close this month.
