Phoenix Technologies (NASDAQ:PTEC) has entered into a definitive agreement to acquire an Israeli-based data management solution provider. BeInSync's all-in-one solution designed for consumers and small to midsize businesses allows users to backup, synchronize, share and access data online.
BeInSync's patent-pending peer-to-peer technology allows users to seamlessly and securely access updated files from any Web browser, automatically syncing and backing them up across multiple computers. The acquisition is expected to be completed in the coming weeks.
"This acquisition is a leap forward in our effort to redefine and significantly improve the PC experience by embedding simplicity for end users," Woody Hobbs, president and CEO of Phoenix Technologies, said in a statement.