Synchronoss Technologies Confirms Receipt of Indication of Interest from Siris Capital Group
The Company’s Board of Directors, consistent with its fiduciary duties, will carefully review and consider Siris’s indication of interest and pursue the course of action that it believes is in the best interests of the Company and its shareholders. The Board cautions the Company's shareholders and others considering trading in its securities that the Board just received the non-binding indication of interest from Siris and no decisions have been made with respect to the Company's response to the indication of interest. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law. The Company’s shareholders do not need to take any action at this time.
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 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, risks associated with the ongoing and
uncompleted nature of the Company’s accounting review; fluctuations in
the Company’s financial and operating results; integration of the
Company’s Intralinks business and execution of the Company’s cost
reduction plan; 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; the dependence of the Company’s Intralinks business on the
volume of financial and strategic business transactions; 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 December 31, 2016, which is on file with the
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Source:
Investor and Media:
Synchronoss Technologies, Inc.
Daniel
Ives, +1 908-524-1047
daniel.ives@synchronoss.com
or
Joele
Frank, Wilkinson Brimmer Katcher
Matthew Sherman / Amy Feng / Greg
Klassen
+1 212-355-4449