Synacor, Inc. (SYNC)

[TechKim]

Synacor Acquires Teknision, Leveraging Its Android Development Platform for Expansion Into Mobile and Android Devices

Date : 11/05/2013 @ 4:13PM
Source : GlobeNewswire Inc.

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Synacor Inc. (Nasdaq:SYNC), the leading provider of next-gen startpages, award-winning TV Everywhere solutions and cloud-based Identity Management (IDM) services, across multiple devices for cable, satellite, telecom and consumer electronics companies in the U.S. and abroad, today announced it has acquired Android development platform company, Teknision. Synacor and Teknision together will enable customers to deliver transformative consumer experiences across Android devices, a step toward Synacor's vision of consumers accessing all media from one place, on any device.

Bringing Teknision's capabilities into Synacor extends Synacor's presence in mobile and provides a platform for developing custom Android launchers and intelligent homescreens for mobile and consumer electronics companies. Synacor can now offer device manufacturers a customizable platform as a service (PaaS) that facilitates personalized and curated online experiences for end-users.

Android has emerged as the preferred platform for major mobile and consumer electronics players, with a reported 1 billion Android activations to date, primarily due to its highly customizable and open framework. Synacor is capitalizing on Android's popularity and the potential it provides for end-users who want dynamic, custom consumer touchpoints like launchers, widgets and lockscreens to access their favorite TV shows, movies, apps, services and tools.

"The Teknision acquisition is exciting on many fronts. Consumers soon will need one-stop access to all media—a homescreen. To that end, we are advancing the presence of our cable, satellite, wireless carrier and consumer electronics customers on a wide range of devices, and all providing their consumers a single point of access. With Teknision's platform, Synacor is able to build upon our HTML5 expertise and pursue the exploding mobile device market opportunity," said Ron Frankel, Synacor CEO. "I believe Android will become the platform of choice for many CE manufacturers on devices relevant to MVPDs, including smartphones, tablets and televisions. By creating cutting-edge experiences for connected screens—from today's tablet to tomorrow's Android TV—Teknision's development platform is important to Synacor's strategy. This acquisition strengthens our ability to guide consumers to their media automatically, on their devices of choice."

"Uniting with Synacor makes perfect sense for Teknision. We've never before had so much reach and so many resources to advance our platform and apps as far as they can go," said Gabor Vida, President of Teknision. "We're known for beautiful and award-winning products and are positioned to vault to the next level. Synacor's expertise, capital and extensive engineering teams, as well as its expansive customer base, elevates Teknision to new heights in innovation and rapid advancements in homescreens, launchers, apps and widgets on Android devices. We know how people feel about their devices—they take them everywhere—so Teknision will continue to do all that we can to create exciting, gorgeous, transformative consumer experiences on a variety of mobile devices."

Some of the most innovative companies around the world use Teknision's white-label homescreens, launchers and custom apps. Most recently Turkey's largest wireless carrier with more than 35 million consumers, wanted extensive enhancements to the consumer experience for its flagship smartphone. With Teknision's technology, the phone features a customized homescreen, lockscreen, launcher and a variety of default apps including email and camera.

For more information on Synacor and Teknision, please visit synacor.com or teknision.com or email [e-mail].

About Synacor

Synacor's white-label platform enables cable, satellite, telecom and consumer electronics companies to deliver TV Everywhere, digital entertainment, cloud-based services and apps to their end-consumers across multiple devices, strengthening those relationships while monetizing the engagement. Synacor (Nasdaq:SYNC), is headquartered in Buffalo, NY, with tech hubs in Toronto and Boston. For more information, visit synacor.com.

Integrate. Authenticate. Engage.

About Teknision

Teknision, creator of a proprietary Android Development Platform, is an award-winning mobile product development company focused on merging design and technology to create transformative user experiences on a variety of connected devices.

Forward-Looking Statements

This release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of management of Synacor, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other factors affecting the operation of the respective businesses of Synacor. More detailed information about these factors may be found in filings by Synacor, as applicable, with the Securities and Exchange Commission, including their respective Quarterly Report on Form 10-Q. Synacor is under no obligation to, and expressly disclaims any such obligation to, update or alter their respective forward-looking statements, whether as a result of new information, future events, or otherwise.

CONTACT: Synacor Contact:
Meredith Roth
VP, Corporate Communications
646-380-5141
[e-mail]

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