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Synchronoss Technologies explores sale worth over $2 billion - WSJ

Reuters

(Reuters) - Software maker Synchronoss Technologies Inc (SNCR.O) is working with financial advisor Qatalyst Partners LP on a possible sale that could be valued at more than $2 billion, The Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Synchronoss has drawn interest from a number of private-equity firms, however, it might be possible that a deal for the company will not materialise, the newspaper reported. (http://on.wsj.com/1KBUGIP)

Shares of the company, which is based in Bridgewater, New Jersey, were up nearly 17 percent at $49.50 in after-hours trading.

Qatalyst Partners and Synchronoss Technologies were not immediately available to comment on the report.

The company has a current market capitalisation of $1.84 billion.

(Reporting by Anet Josline Pinto in Bengaluru)