Synchronoss extends contract with Verizon through 2030Synchronoss extends contract with Verizon through 2030
Synchronoss said it inked a seven-year extension with Verizon to supply the operator with cloud services through 2030. #pressrelease
July 19, 2023
BRIDGEWATER, N.J. – Synchronoss Technologies, Inc. ("Synchronoss" or the "Company") (Nasdaq: SNCR), a global leader and innovator in cloud, messaging and digital products and platforms, today announced the signing of a seven-year contract with Verizon (NYSE: VZ) until June 30, 2030. The extended agreement provides Verizon and its cloud subscribers with a long-term, predictable model of support and ongoing investment in continued product evolution that will build upon new capabilities, leveraging artificial intelligence and machine learning.
The Synchronoss Personal Cloud platform has powered a range of Verizon service offerings and bundles for 10 years demonstrating the collaboration and mutual trust between the companies. Purpose-built for global service providers, Synchronoss Personal Cloud currently supports over 10 million subscribers worldwide, delivering compelling solutions for storage of consumers' most important content. The scalable platform manages the ingest of more than fifty million photos, videos and other user generated content per day, comprised of 200-plus petabytes of storage.
A key aspect of the extended agreement is the strategic commitment to research and development investments designed to keep Synchronoss and Verizon at the forefront of technological advancement to meet evolving customer needs and anticipate market trends and challenges. The latest version of Synchronoss Personal Cloud integrates AI functionality, giving users new ways to enhance, create, and share all types of digital content. Additionally, deep learning provides new ways to organize and manage content by automatically categorizing and tagging photos, facilitating convenient access to desired content.
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