Synchronoss Technologies soars as Lumine Group announces acquisition

Lumine

04/12/2025 17:04

** Shares of cloud solutions provider Synchronoss Technologies SNCR.O soar 64.7% to $8.73

** Lumine Group LMN.V to buy SNCR in an all-cash deal with an equity value of about $116.4 mln, based on cash price of $9.00 per share, LMN says

** Deal has an enterprise value of about $258.4 mln, and is expected to close in the first half of 2026 - LMN

** Lumine Group shares up 9.3%

** As of last close, SNCR was down ~45% YTD, LMN down ~35% YTD

 (Reporting by Arnav Mishra in Bengaluru)

 ((Arnav.Mishra@thomsonreuters.com;))