UK electronics retailer Dixons Carphone Plc (LON:DC.) has dumped its loss-making honeybee software business on small US tech firm Synchronoss Technologies Inc (NASDAQ:SNCR).
honeybee helps companies to design and launch digital sales processes for contact centres, retail stores and online channels with the goal of improving the customer experience.
No numbers were mentioned in the announcement, but City analysts assumed a loss of £19mln for honeybee in the current financial year.
Synchronoss said the acquisition would strengthen its digital solutions portfolio.
“honeybee’s digital platform will further augment our industry-leading expertise in optimizing digital channels to deliver an outstanding experience to the customers of Telecommunications, Media and Technology organizations,” said Glenn Lurie, chief executive of Synchronoss.
“Our acquisition of honeybee Solutions is a key component of our future product strategy to deliver true omni-channel solutions and is indicative of our aggressive investment in Digital.”
There was no announcement from Dixons, although it is believed that the retailer will book a non-cash write-off as a result of the transaction, with more detail expected in its full-year results next month.
Synchronoss said the deal was due to close towards the end of the month (May).
Dixons shares were up 0.4% to 215p in late-afternoon trading, while Synchronoss opened slightly lower in New York, down 0.6% to US$10.49.