Israel Digital News

Core systems software platforms provider Phoenix Technologies is to acquire BeInSync, a provider of online backup, secure remote access and file synchronization software solutions. Phoenix will pay $22.1 million in the form of cash and Phoenix common stock for the Israeli-based startup company.

BeInSync's patent-pending, peer-to-peer (P2P) technology allows users to seamlessly and securely access their latest files anytime and anywhere, automatically keeping files and folders 'in sync' and backed up across multiple computers, including home PCs, office PCs and laptops. The acquisition, which is anticipated to close within the next several weeks, will support Phoenix move to deliver its PC 3.0 promise of Embedded Simplicity.

“This acquisition is a leap forward in our effort to redefine and significantly improve the PC experience by embedding simplicity for end users," said Woody Hobbs, President and CEO of Phoenix Technologies. "PC 3.0 eliminates complexity and provides users with the kind of convenience they expect from their digital devices. We are bringing new benefits to the hundreds of millions of PC users globally who require built-in functionality on PCs by enabling secure and easy online access and collaboration and automated data protection to help them manage their digital lives.

"With this acquisition, Phoenix is extending its leadership in the PC industry to include products in its portfolio that will set the standard yet again for providing the best-in-class solutions to PC OEMs and their customers," said Tal Barnoach, Founder and Chairman of BeInSync.

Upon the closing of the acquisition, Sharon Carmel, Founder & Vice President of R&D at BeInSync, will join Phoenix as Vice President & Chief Scientist of Synchronization and Continuity Solutions and Phoenix will continue to maintain operations out of Tel Aviv, Israel.

Phoenix provides core system software (CSS) for personal computers (PCs) and other computing devices. The company was founded in 1979 and is headquartered in Milpitas, California. Trading on Nasdaq stock exchange, the company’s current market capitalization is $428 million.

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