December 6, 2016 / 12:32 PM / 8 months ago

BRIEF-Synchronoss Technologies to acquire Intralinks Holdings

2 Min Read

Dec 6 (Reuters) - Synchronoss Technologies Inc

* Synchronoss to acquire Intralinks Holdings, Inc. For $13.00 per share or $821 million in equity value

* Synchronoss Technologies Inc- transaction was unanimously approved by board of directors of both companies

* Stephen G Waldis, founder and current chief executive officer, will serve as executive chairman of board

* Synchronoss Technologies - expects to finance intralinks deal with existing cash,proceeds from sequential technology transaction,$900 million of new debt

* Given expected closing in first calendar quarter of 2017, co expects intralinks transaction to have no impact to q4

* Synchronoss technologies inc - targeting $40 million of combined synergies within first year of closing intralinks deal

* Synchronoss Technologies Inc - to divest a portion of its activation business to sequential technology international for $146 million

* Synchronoss Technologies Inc - strategic alternatives being pursued for remaining activation assets

* Ron Hovsepian, CEO of Intralinks, is expected to be appointed as CEO of Synchronoss upon closing

* Synchronoss Technologies -giving initial 2017 revenue guidance of between $810 million- $820 million with pro forma eps of between $2.45-$2.60 for combined entity

* Synchronoss Technologies Inc - Synchronoss expects Intralinks transaction to have no impact to its Q4 financials

* Synchronoss Technologies to acquire Intralinks Holdings accelerating strategic transformation Source text for Eikon: Further company coverage:

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