CAPE et al. exit Miyowa in $45.5m trade sale

Synchronoss is also set to pay a further $13.5m should Miyowa meet specific performance requirements over the next four years.

Previous funding
Techfund and investment company Sophia Euro Lab initially invested €3m in Miyowa in 2006. Techfund reinvested and was joined by CAPE in 2008 for an additional €8m round.

Company
Founded in April 2003 by Pascal Lorne and Francois Colon, Paris-based Miyowa develops social network and messaging software for mobile devices. The business is said to be profitable and currently employs 72 staff.

People
Michel de Lempdes and François-Xavier Dedde represented CAPE on the deal. Techfund was represented by Jean-Michel Barbier, Kurt Keilhacker and Françoise Lohezic. Pierre Taillardat led the transaction for Sophia Euro Lab.

Advisers
Vendors – Jones Day, Renaud Bonnet, Jean-Gabriel Griboul, Remi Freon (Legal); Ridgecrest Capital Partners, Joshua Rafner, Yaron Lipshitz (Corporate finance).
Acquirer – Gunderson Dettmer, Jeffrey M Engerman (Legal); Salans, Pascal Chadenet (Legal).

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