Why Did Synchronoss Technologies, Inc. Shares Gain 21% in October?
Sometimes just knowing that a company has a path forward can be good for its stock. That's the case with Synchronoss Technologies, Inc. (NASDAQ: SNCR), a company that provides mobile solutions for service providers and enterprise through scalable software solutions.
As October began, Synchronoss was in the midst of pursuing "strategic alternatives." That's a fancy way to say that it was examining its business while facing some harsh financial realities.
In mid-October, the company emerged from that process with a new plan. It decided to "double down" on its communication and media business while selling its Intralinks subsidiary to Siris Capital. Synchronoss had entered an exclusive negotiating period with Siris earlier in the month, after concluding talks with other suitors.
Source: Fool.com
