Synchronoss Technologies Announces Review of Strategic Alternatives

BRIDGEWATER, NJ -- Synchronoss Technologies, Inc. (NASDAQ:SNCR) (the "Company" or “Synchronoss”), the leader in mobile cloud innovation for mobile carriers, enterprises, retailers and OEMs around the world, today announced that its Board of Directors has initiated a process to evaluate potential strategic alternatives to maximize shareholder value. As part of the process, the Board will consider a full range of strategic, operational and financial alternatives, which may include a sale or other transaction.

Synchronoss has retained Goldman Sachs & Co LLC and PJT Partners Inc. as its financial advisors to assist with the strategic review process, and has retained Simpson Thacher & Bartlett LLP and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP as its legal counsel.

As previously disclosed, Synchronoss received a non-binding indication of interest from Siris Capital Group, LLC on June 23, 2017 to acquire the Company. In light of the indication of interest, the Board believes now is an appropriate time to explore a broad range of strategic alternatives that may have the potential to unlock shareholder value.

There can be no assurance that the strategic review process will result in any transaction or strategic alternative, or any assurance as to its outcome or timing. The Company has not set a timetable for completion of the review process and does not intend to disclose developments related to the process unless and until the Board approves a transaction or specific action, or otherwise determines that further disclosure is appropriate or required.

Synchronoss Technologies Inc. (Nasdaq: SNCR)