Synchronoss Technologies,Inc. (NASDAQ:SNCR) Files An 8-K Entry into a Material Definitive Agreement

Synchronoss Technologies,Inc. (NASDAQ:SNCR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.

Story continues below

On March16, 2018, Synchronoss Technologies,Inc., a Delaware corporation (“Synchronoss”), entered into an agreement (the “Amendment”) with Verizon Sourcing LLC (“Verizon”) to amend the terms of Statement of Work No.1 (“SOW No.1”) under the existing Application Service Provider Agreement dated April1, 2013 between Synchronoss and Verizon (the “Original Agreement”).

Under the terms of the Amendment, Verizon will pay a monthly fee for each Verizon subscriber that utilizes the Synchronoss Content Hub Software, with a fixed minimum amount to be paid each month. In addition, Verizon will pay a fixed annual amount for professional services throughout the term of the Amendment and a one-time hosting conversion fee. The fee structure of this Amendment replaces the existing fee structure set forth in SOW No.1.

The Amendment extends the term of SOW No.1 through December31, 2022.

The foregoing description of the Original Agreement, SOW No.1 and the Amendment does not purport to be complete and is qualified in its entirety by the full text of the Original Agreement, the SOW No.1 and the Amendment, copies of which will be filed as exhibits to Synchronoss’ Quarterly Report on Form10-Q for the quarter ending March31, 2018.

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.

An ad to help with our costs