Synchronoss, Verizon to Jointly Promote Verizon Cloud to Wireless Customers

Synchronoss Technologies got a five-year contract extension with top customer Verizon that includes a joint marketing agreement for Synchronoss “to step up our marketing efforts to sell Verizon Cloud to their wireless subscriber base,” said CEO Glenn Lurie on a Monday investor call. “We have not previously had, to this degree, a dedicated and coordinated direct marketing effort.” Synchronoss will focus near term on “cloud adoption in the setup flow when Verizon is onboarding a new customer or an existing customer upgrade to their device,” said Lurie, former CEO of AT&T’s mobility and consumer operations. “We believe this joint marketing effort will be a powerful catalyst to drive adoption of Verizon Cloud.” Other Synchronoss initiatives in the contract extension “augment Verizon's service offerings in other areas, which provide us with expanded access to Verizon customers and help us continue to grow cloud revenue,” he said. The stock closed 14.7% higher Monday at $3.51.