SYNCHRONOSS TECHNOLOGIES, INC. (NASDAQ:SNCR) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets.
(“Synchronoss”) completed the previously announced divestiture of
a portion of its carrier activation business (BPO) to newly formed
Sequential Technology International, LLC (STI) for a total purchase
price of $146 million (the Sale). As part of the Sale, Synchronoss
will retain a 30% investment in STI, which can be reduced during
the course of 2017. The historical financial results of the BPO
business will be classified as discontinued operations in
Synchronoss’ future filings.
effect to the disposition of the BPO is included in Exhibit 99.1
filed herewith and incorporated by reference into this Item 9.01.
Unaudited pro forma condensed consolidated financial
About SYNCHRONOSS TECHNOLOGIES, INC. (NASDAQ:SNCR)
Synchronoss Technologies, Inc. (Synchronoss) offers cloud solutions and software-based activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The Company operates in providing cloud solutions and software-based activation for connected devices segment. Its software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks. The Company’s solutions include activation and provisioning software for devices and services, cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, identity/access management and secure mobility management that enable communications service providers (CSPs), cable operators/multi-services operators (MSOs) and OEMs with embedded connectivity, multi-channel retailers, medium and large enterprises and their consumers, as well as other customers for secure and broadband networks, and connected devices. SYNCHRONOSS TECHNOLOGIES, INC. (NASDAQ:SNCR) Recent Trading Information
SYNCHRONOSS TECHNOLOGIES, INC. (NASDAQ:SNCR) closed its last trading session down -0.83 at 38.83 with 350,734 shares trading hands.