Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Shares of Synchronoss Technologies Are Slumping Today


Why Shares of Synchronoss Technologies Are Slumping Today

Shares of Synchronoss Technologies (NASDAQ: SNCR) tumbled on Wednesday, one day after the company announced that it was selling its Intralinks business for roughly $1 billion. This sale ends Synchronoss' strategic alternatives process after a year of drama that has sent the stock on a roller-coaster ride. At 11:15 a.m. EDT, Synchronoss stock was down about 11.5%.

Synchronoss has agreed to sell its Intralinks business to Siris Capital Group. Under the deal, Siris will also make a $185 million investment in Synchronoss in the form of convertible preferred stock. This stock will initially be convertible into 19.8% of Synchronoss' common stock.

Image source: Getty Images.

Continue reading


Source: Fool.com

Synchronoss Technologies Stock

€0.43
0.470%
The Synchronoss Technologies stock is trending slightly upwards today, with an increase of €0.002 (0.470%) compared to yesterday's price.

Like: 0
Share

Comments