NJ TECH CORNER: Synchronoss Technologies
NJ Tech Weekly is pleased to announce the introduction of a new feature called NJ Tech Corner. Each month, we will feature a publicly held tech company and offer our readers a snapshot of who is in control of these companies, their current valuations, and other pertinent information that provides a more informed picture of them. NJ Tech Corner signifies our ongoing commitment to provide high-quality editorial coverage of New Jersey’s technology sector that can’t be found elsewhere. We’d like to thank Synchronoss for its cooperation in being NJ Tech Corner’s first featured company. NJ Tech Corner is researched and written by NJ Tech Weekly contributor Marc Weinstein. We hope you enjoy NJ Tech Corner and would welcome any reader feedback.
Company Overview
Synchronoss Technologies Inc. is a provider of cloud solutions and software-based activation for mobile carriers, enterprises, retailers and OEMs worldwide. The company, based in Bridgewater, targets its services to the financial services, healthcare, life sciences and government sectors. The company, which has locations in the U.S., Europe and Asia, has 1,895 full-time employees (as of Dec. 31, 2015).
Investment & Financial Information
|
Shares of common stock outstanding (as of Feb. 18, 2016): |
44,594,635 |
|
Share price of stock (as of market close June 17, 2016) |
$34.10 |
|
Share price of stock (one year ago) |
$49.82 |
|
Current valuation (as of June17, 2016) |
$1.52 billion |
|
Valuation one year ago |
$2.15 billion |
|
Stock Symbol: |
NASDAQ: SNCR |
|
Net Revenues (year ended Dec. 31, 2015): |
$578.8 million |
|
Net Revenues previous year |
$457,3 million |
|
Net Income ( Year ended Dec. 31, 2015) |
$42.55 million |
|
Net Income previous year: |
$39.65 million |
Management Team
|
Name |
Age |
Title |
|
Stephen J. Waldis |
48 |
Chairman of the Board of Directors, CEO |
|
Robert Garcia |
47 |
President and COO |
|
Karen Rosenberger |
50 |
Executive Vice President, CFO, Treasurer |
|
Ronald J. Prague |
52 |
Executive Vice President, Chief Legal Officer, General Counsel, Secretary |
|
David Schuette |
50 |
Executive Vice President and President, Enterprise |
|
Joel Silverman |
51 |
Executive Vice President of Americas |
|
Patrick Doran |
42 |
Executive Vice President, Chief Technology Officer |
|
Daniel Rizer |
52 |
Executive Vice President of Business Development and Product Management |
|
David Berry |
50 |
Executive Vice President and Chief Innovation Officer |
Board of Directors
|
Name |
Age |
Title |
|
James M. McCormick |
56 |
Founder and Director |
|
Donnie Moore |
62 |
Formerly Senior VicePresident, Finance and Administration, and CFO of Cognos Inc. |
|
Thomas J. Hopkins |
59 |
Managing Director of Colchester Capital LLC. |
|
William J, Cadogan |
67 |
Formerly Senior Managing Director with Vestbridge Partners |
|
Stephen J. Waldis |
48 |
Founder, CEO and Chairman of the Board |
|
Charles E. Hoffman |
67 |
Dean of The College of Business, University of Missouri-St. Louis |
Noteworthy Control
|
Name |
Shares of common stock owned |
% of total common shares |
|
Stephen J. Waldis |
935,101 |
2.0% |
|
James M. McCormick |
3,125,561 |
6.9% |
|
FMR LLC |
3,280,157 |
7.3% |
|
BlackRock Inc. |
3,832,174 |
8.5% |
|
Oak Ridge Investments |
2,554.166 |
5.7% |
|
RBC Global Asset Management |
2,616,977 |
5.8% |
|
The Vanguard Group |
2,887,460 |
6.4% |
[All information for NJ Tech Corner was taken from the company’s annual report and proxy statement, with the exception of the company’s stock price and valuation.]
