http://blog.canonical.com/2014/04/02/shutting-down-ubuntu-one-file-services/
Additionally, we continue to believe in the Ubuntu One file services, the quality of the code, and the user experience, so will release the code as open source software to give others an opportunity to build on this code to create an open source file syncing platform.
Let's hope it'll be a a new contender in Open Source Dropbox clones.