Synchronoss Technologies Up 9% After Company Considers Selling Itself

By Claudia Assis Markets MarketWatch Pulse

Shares of Synchronoss Technologies Inc. rose 9% late Thursday after the Bridgewater, N.J., company said its board of directors had started to "evaluate potential strategic alternatives to maximize shareholder value," which may include a sale, the company said in a statement. Synchronoss disclosed a non-binding indication of interest from Siris Capital Group, LLC in June to buy the company. The company has not set a timetable to complete the review process and does not plan to disclose "developments related to the process unless and until the Board approves a transaction or specific action," the company said. The stock ended the regular session down 2.3%.

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