Synchronoss Completes Sale of Intralinks to Siris Capital Group
Enables
“With the completion of the Intralinks transaction,
Intralinks will now operate as an independent, privately owned portfolio
company of investment funds affiliated with Siris. Leif O’Leary,
formerly Executive Vice President of Strategic Financials for
As previously disclosed on
Advisors
About
Forward-looking Statements
Certain statements contained in this press release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include, but are
not limited to, plans, objectives, expectations and intentions and other
statements contained in this report that are not historical facts,
including statements regarding our exploration and evaluation of
strategic alternatives and statements identified by words such as
“expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,”
“estimates,” “outlook” or words of similar meanings. These statements
are based on the Company’s current expectations and beliefs and various
assumptions. There can be no assurance that the Company will realize
these expectations or that these beliefs will prove correct. Numerous
factors, many of which are beyond the Company’s control, could cause
actual results to differ materially from those expressed as
forward-looking statements. These factors include, but are not limited
to, the risk that the proposed convertible preferred equity transaction
may not be completed in a timely manner, or at all; the failure to
satisfy the conditions to the consummation of the proposed convertible
preferred equity transaction; the occurrence of any event, change or
other circumstance that could give rise to the termination of the
proposed convertible preferred equity transaction agreement; the risk
that revenue opportunities, cost savings, synergies and other
anticipated benefits from the sale of Intralinks may not be fully
realized or may take longer to realize than expected; risks that the
proposed convertible preferred equity transaction disrupts current plans
and operations of the Company; risks related to diverting management’s
attention from the Company’s ongoing business operations; risks related
to the outcome of any legal proceedings that may be instituted against
the Company, its officers or directors related to the sale of Intralinks
or the proposed convertible preferred equity transaction; risks
associated with the ongoing and uncompleted nature of the Company’s
accounting review; fluctuations in the Company’s financial and operating
results; the Company’s substantial level of debt and related
obligations, including interest payments, covenants and restrictions;
uncertainty regarding increased business and renewals from existing
customers; disruptions to the implementation of the Company’s strategic
priorities and business plan caused by changes in the Company’s senior
management team; customer renewal rates and attrition; customer
concentration; the Company’s ability to maintain the security and
integrity of the Company’s systems; foreign currency exchange rates; the
financial and other impact of previous and future acquisitions;
competition in the enterprise and mobile solutions markets; the
Company’s ability to retain and motivate employees; technological
developments; litigation and disputes and the costs related thereto;
unanticipated changes in the Company’s effective tax rate; uncertainties
surrounding domestic and global economic conditions; other factors that
are described in the “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” sections of
the Company’s Annual Report on Form 10-K for the year ended
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