RIM sold NewBay and its assets to Synchronoss Technologies for $55.5 million in cash, which would help to pay that bill. The news is somewhat disconcerting because of the timing, how short of a time that RIM had NewBay, and the fact that RIM originally paid $100 million for the company, but also because NewBay could have been a pretty useful acquisition for RIM had it held on.
NewBay’s cloud software enables a number of features that are big across content stores and competing plaforms such as storing, sharing, and accessing media content across connected devices such as smartphones, tablets, PCs and TVs, and delivering user content services such as social networking, digital vault, photo and video albums, network address book, notification, and converged messaging services. Basically, NewBay helps to offer features that have become standard in Google Play, iCloud, and even Windows Phone. So, we're hoping RIM has other solutions lined up.