Why Synchronoss Matters
In the growing telecom industry, there are the obvious winners; Verizon , AT&T on the network side. Research In Motion , Apple on the handheld side. But there’s one behind-the-scenes player that doesn’t get much attention, but reaps the same rewards: Synchronoss Technologies .
Synchronoss CEO Stephen Waldis visited Mad Money on Monday to explain his company’s business – and why it is profiting even though most people don’t know it exists.
The company essentially provides the software that mobile phones, especially smartphones and PDAs, run on. Synchronoss services all the major providers, Waldis said, including the cable operators like Time Warner and Cablevision . It also dominates the software for voice-over-internet technology, according to Waldis, servicing the infrastructure used by companies like Vonage and Clearwire .
Synchronoss is also levered to the success of Apple’s iPhone, providing customers the ability to activate the device from home on iTunes, Waldis said.
Of course, these days it’s tough for a stock to get Cramer’s seal of approval unless it has major exposure overseas. Synchronoss just announced it will roll out its business in Europe, hoping to tap into the huge mobile market there.
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