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Synchronoss Technologies Inc (SNCR.OQ)

SNCR.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Synchronoss Technologies board to be increased to 10 members
Tuesday, 17 Oct 2017 08:43am EDT 

Oct 17 (Reuters) - Synchronoss Technologies Inc :At closing of preferred investment by Siris Capital, Synchronoss Technologies board will be increased to 10 directors - SEC filing.If agreement for preferred investment terminated, Synchronoss may be required to repurchase up to 6.0 million shares for $14.56/share.  Full Article

Synchronoss Technologies announces successful conclusion of strategic alternatives process to maximize value for shareholders
Tuesday, 17 Oct 2017 08:00am EDT 

Oct 17 (Reuters) - Synchronoss Technologies Inc :Synchronoss Technologies announces successful conclusion of strategic alternatives process to maximize value for shareholders.Synchronoss Technologies Inc - ‍divest non-core assets through agreement to sell intralinks business to siris​.Synchronoss Technologies Inc - ‍investment funds affiliated with siris will acquire all of stock of co's unit intralinks holdings, inc​.Synchronoss Technologies Inc - ‍investment funds affiliated with siris will acquire all of stock of intralinks holdings for approximately $1 billion​.Synchronoss - ‍leif O'leary, executive vice president of strategic financials for synchronoss, is expected to serve as CEO of Intralinks​.Synchronoss Technologies Inc - ‍ funds affiliated with siris capital group to make an investment in convertible preferred equity of co of $185 million​.Synchronoss Technologies Inc - ‍ siris convertible preferred equity investment in synchronoss in amount of $185 million is comprised of cash and stock​.Synchronoss Technologies Inc - ‍ transactions have been unanimously approved by synchronoss' board of directors​.Synchronoss - if equity investment terminated,siris has right to cause co to repurchase some/all of 6 million shares of co common stock that siris holds​.Synchronoss Technologies-to use proceeds from intralinks transaction to retire term loan debt.  Full Article

Synchronoss Technologies finds error in 2014 revenue recognition
Thursday, 12 Oct 2017 05:38pm EDT 

Oct 12 (Reuters) - Synchronoss Technologies Inc :Synchronoss Technologies - ‍ has also identified error concerning revenue recognition associated with a transaction conducted during 2014​.Synchronoss Technologies - ‍identified transaction has no impact on cash balances and overall net cash flows for fiscal year ended December 31, 2014​.Synchronoss Technologies -not yet completed its accounting review of deals conducted during 2014, it is possible that additional errors might be identified.Synchronoss Technologies - revenue from 2014 transactions should be netted against consideration transferred in connection with purchase accounting​.Synchronoss Technologies - previously issued statements for fiscal year ended Dec 31, 2014 and respective qtrly periods should no longer be relied upon​.Synchronoss Technologies-on Oct 5,audit committee of board concluded to restate previously issued financial statements for fiscal year ended Dec 31,2014​.Synchronoss Technologies Inc - ‍ "ongoing review has had no noticeable impact on company's overall sales pipeline"​.  Full Article

‍Siris Capital enters into exclusivity agreement with Synchronoss
Thursday, 5 Oct 2017 05:10pm EDT 

Oct 5 (Reuters) - ‍Siris Capital Group LLC:‍siris capital says on oct 5, has entered into exclusivity agreement with synchronoss providing for exclusivity period that expires on oct 11.‍siris capital says during exclusivity period, plan to negotiate with synchronoss regarding acquisition of intralinks for up to $915 million in cash.  Full Article

Synchronoss Technologies issues statement regarding strategic alternatives
Friday, 29 Sep 2017 06:05pm EDT 

Sept 29 (Reuters) - Synchronoss Technologies Inc ::Synchronoss Technologies issues statement regarding strategic alternatives process.Remains in discussions with multiple parties regarding potential strategic transaction​.Determined entering exclusivity agreement with Siris at this time is not in best interest of company's shareholders​.  Full Article

Synchronoss Technologies says board continues to explore strategic alternatives, which may include sale of co,other transactions​
Tuesday, 19 Sep 2017 08:00am EDT 

Sept 19 (Reuters) - Synchronoss Technologies Inc :Synchronoss Technologies provides update on strategic alternatives process.Synchronoss Technologies - ‍remains in active discussions with Siris Capital Group, other interested parties regarding range of potential strategic deals.Synchronoss -board continues to explore full range of strategic, operational, financial alternatives, which may include sale of co,other transactions​.  Full Article

‍Siris Capital Group says on Sept 15, co informed Synchronoss Technologies they are no longer interested in pursuing all-cash acquisition of co​
Tuesday, 19 Sep 2017 06:36am EDT 

Sept 19 (Reuters) - Synchronoss Technologies Inc :‍Siris Capital Group - on Sept 15, Siris Capital informed Synchronoss Technologies they are no longer interested in pursuing all-cash acquisition of co​.‍siris Capital Group says are prepared to consider other forms of a potential transaction for synchronoss technologies​ - SEC Filing.  Full Article

Synchronoss Technologies enters into a first amendment and limited waiver to credit agreement
Tuesday, 25 Jul 2017 04:59pm EDT 

July 25 (Reuters) - Synchronoss Technologies Inc ::Synchronoss Technologies Inc says on July 19, 2017, company entered into a first amendment and limited waiver to credit agreement - sec filing.Synchronoss Technologies Inc - amendment reduces revolving credit commitments from $200 million to $100 million.  Full Article

Synchronoss Technologies announces review of strategic alternatives
Thursday, 6 Jul 2017 04:15pm EDT 

July 6 (Reuters) - Synchronoss Technologies Inc ::Synchronoss Technologies announces review of strategic alternatives.Synchronoss Technologies announces review of strategic alternatives.Synchronoss Technologies Inc - has retained goldman sachs & co LLC and PJT Partners Inc As its financial advisors to assist with strategic review.Synchronoss Technologies - board of directors has initiated a process to evaluate potential strategic alternatives to maximize shareholder value.Synchronoss Technologies Inc - board will consider a full range of strategic, & financial alternatives, which may include a sale or other transaction​.  Full Article

Elk Creek Partners reports 5.05 pct passive stake in Synchronoss Technologies
Monday, 26 Jun 2017 01:17pm EDT 

June 26 (Reuters) - Elk Creek Partners LLC::Elk Creek Partners LLC reports a 5.05 percent passive stake in Synchronoss Technologies Inc as of June 23, 2017 - SEC filing.  Full Article

LPC: Intralinks LBO backed by US$650m loan package

NEW YORK, Oct 20 Private equity firm Siris Capital Partners has lined up US$650m of loans to finance its roughly US$1bn buyout of US cloud collaboration and virtual data room software provider Intralinks Holdings from US mobile cloud services company Synchronoss Technologies Inc, according to two sources familiar with the matter.