Synchronoss Technologies, a Nasdaq-listed software company for telecom operators, has agreed to buy venture-backed peer FusionOne for about half the money that was invested over the past 12 years.
Synchronoss will pay $32m in cash and $8m in its shares initially and $35m if targets are reached in the next year. FusionOne raised more than $140m from corporate venturers, including Nokia, 3Com and Hewlett-Packard, as well as investment banks and venture capital funds.
FusionOne launched in 1998 and gained $10m in its first two rounds but then received $130m in 2000 at the top of the technology, media and telecoms bubble, according to news provider VentureWire. The company then refinanced in 2006 and had its final $6.3m round two years ago, which included BlueRun Ventures, the venture capital firm spun out of phone maker Nokia which remains a limited partner in its funds.