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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Peer to Peer (P2P) file sharing solutions provider BeInSync unveils free software to sync, share, access and backup any type of digital content. The new BeInSync version 3.0 allow user to synchronize documents, photos, videos and music across all home, office and notebook computers and to share and backup large amounts of files, instantly via web interface.

BeInSync leverages the Amazon Simple Storage Service (Amazon S3) from Amazon Web Services as the solution's underlying infrastructure to provide its users with up to 1GB of highly reliable performance and available storage.

"With over four million downloads, this new product release is a major milestone for BeInSync, and incorporates feedback received from our user community," said Motti Vaknin, CEO of BeInSync. "Consumers and small businesses need a complete solution for their data that is simple, automatic and secure. By launching this comprehensive data solution, we provide a full-featured product with sync, share, access and all new backup."

Based on patent-pending secure private peer-to-peer (P2P) technology, BeInSync creates private data networks that make it easy to stay connected and always in sync with colleagues, friends, remote files and computers. Privately held, BeInSync is venture capital backed and headquartered in Tel Aviv, Israel with offices in San Jose, California.

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