Storage hardware vendor EMC today announced that it has sold Syncplicity, a file syncing and sharing service that works with both cloud and on-premises data center storage, to Skyview Capital, a private investment firm. Terms of the deal weren’t disclosed.
EMC bought Syncplicity for an undisclosed sum in 2012. EMC will continue to be a sales partner and hold a financial interest in Syncplicity.
The deal suggests that EMC, long an arms dealer to enterprises willing to pay up for reliable storage gear that sits in their data centers, might not be the best candidate to run a service that partly runs on public clouds. Cloud-only file syncing and sharing company Box went public at the beginning of this year and recently struck a major partnership deal with IBM, while Dropbox raised $325 million last year at a reported $10 billion valuation. Tech giants Google, Microsoft, and Amazon play active roles in the competitive cloud file syncing and sharing business, and perhaps it makes more sense for EMC to focus on its core competency of enterprise storage.
The idea here is to allow Syncplicity to form partnerships with many software and hardware vendors and systems integrators — not just EMC exclusively, Jonathan Huberman, the new chief executive of Syncplicity and Skyview’s head of portfolio operations, said in an interview with VentureBeat.
“They’ve got a really good product, but the go-to-market is somewhat restrained,” said Huberman, who previously worked at EMC as president of its consumer and small business products division.
Jeetu Patel, who has worked as general manager of the Syncplicity business unit at EMC, is sticking around to assist in the transition for the next month. After that, he’ll move on.
Today Syncplicity has “millions” of end users and “thousands” of customers, said Gaurav Verma, its head of customer success. The customer list includes the Associated Press, the Boston Red Sox, and Merck. It’s unclear how much revenue Syncplicity has generated for EMC since the acquisition, but Huberman said the business has grown since then.
“We’re looking forward to getting our fair share of the space,” Huberman said. “We don’t need to destroy anybody else to be successful in this business.”