March 2016

Openwave Messaging

Financial Advisor to Acquisition of Openwave Messaging by Synchronoss Technologies

Canaccord Genuity acts as exclusive financial advisor to Openwave Messaging on its sale to Synchronoss Technologies

Canaccord Genuity is pleased to announce that its client, Openwave Messaging, Inc., a provider of innovative messaging, communication and security solutions for service providers, and a portfolio company of Marlin Equity Partners, announced on March 2, 2016 that it has been acquired by Synchronoss Technologies, Inc. (NasdaqGS:SNCR), a provider of personal cloud solutions and software-based activation for connected devices. The acquisition of Openwave significantly expands Synchronoss’ global footprint, further enhances its flagship personal cloud platform and enables Synchronoss to enter new high-value product areas.

Canaccord Genuity acted as exclusive financial advisor to Openwave in connection with the transaction. Following a review of Openwave’s strategic alternatives, Synchronoss was identified as a natural partner for the company and this proprietary strategic idea was then introduced to Marlin and marketed to Synchronoss. Canaccord Genuity’s longstanding commitment to find a value-enhancing solution for both Openwave and Marlin consequently resulted in the consummation of a highly focused mandate with limited execution risk and significant strategic and financial upside for all parties.

Canaccord Genuity’s team for this transaction was led by Ben Gibson and Lisa McClure Byrnes with support from Mo Mirza, Olly Forrer and Marc Guirand. This transaction represents the third asset Canaccord Genuity has sold to Synchronoss and the fourth time Canaccord Genuity has worked with Marlin, illustrating the depth of the firm’s relationships with both strategic acquirers and financial sponsors.