NJ TECH CORNER: SYNCHRONOSS TECHNOLOGIES, INC.
Company Overview
Synchronoss Technologies, Inc. (NASDAQ: SNCR) is a provider of cloud, messaging, digital and IoT products, supporting hundreds of millions of subscribers across the globe. The Bridgewater-based company targets its services to the financial services, healthcare, life sciences and government sectors. Founded in 2000, the company has 1,438 employees as of Dec.31, 2017.
Investment & Financial Information
| Shares of common stock outstanding as of ( December 31, 2018 ): | 42,684,573 |
| Share price of stock ( as of March 29, 2019) | $6.08 |
| Share price of stock (as of March 22, 2018) | $10.55 |
| Current valuation (market cap as of (as of March 22, 2019) | $259.5 million |
| Valuation one year ago (market cap as of as of March 29, 2018) | $489.2 million |
| Stock Symbol: | SNCR |
| Revenues (12 months ended Dec. 31, 2018 ) | $325.83 million |
| Revenues (12 months ended Dec. 31, 2017) | $402.36 million |
| Net Income (Loss) (12 months ended Dec. 31, 2018 ) | ($226.99 million) |
| NetIncome (Loss) (12 months ended Dec. 31, 2017 ) | ($118.72 million) |
Management Team
| Name | Age | Title |
| Glenn Lurie | 52 | President and CEO |
| Stephen J. Waldis | 51 | Executive Chairman |
| Mary Clark | 52 | Chief Marketing Officer, Chief Product Officer |
| Ronald J. Prague | 55 | Chief Legal Officer, Secretary |
| Patrick J. Doran | 45 | Chief Technology Officer |
| Kevin Hunsaker | 53 | Chief Peoples Officer |
| Jeff Miller | N/A | Chief Commercial Officer |
| David Clark | N/A | Chief Financial Officer |
Board of Directors
| Name | Age | Title |
| James M. McCormick | 56 | Founder and Director |
| Donnie Moore | 62 | Formerly Senior Vice President, Finance and Administration, and CFO of Cognos Inc. |
| Thomas J. Hopkins | 61 | Managing Director of Colchester Capital, LLC. |
| William J, Cadogan | N/A | Retired Senior Managing Director, Vestbridge Partners |
| Stephen J. Waldis | 51 | Founder and Executive Chairman, former CEO and Chairman of the Board |
| Donnie Moore | 62 | RetiredSenior VicePresident, Finance and Administration, and CFO, Cognos, Inc |
| Frank Baker* | 44 | Managing Partner, Siris Capital |
| Peter Berger* | 67 | Managing Partner, Siris Capital |
| Robert Aquilina* | 67 | Executive Partner, Siris Capital |
| Glenn Lurie | 52 | President, CEO |
| Mohan Gyani | N/A | Investor, former President and CEO, AT&T Wireless Mobility Services |
| Kris Rinne | N/A | Former SVP, AT&T |
*Messrs. Aquilina, Baker and Berger are members of New York-based Siris Capital, which controls Silver Private Holdings I, LLC, the company’s largest shareholder.
Noteworthy Control (as of Dec. 31, 2018)
| Name | Shares of common stock owned | % of total common shares |
| Silver Private Holdings I, LLC | 10,658,351 | 19.9% |
| Elk Creek Partners | 3,249,300 | 7.6% |
| James M. McCormack | 3,083,987 | 7.23% |
| Archon Capital Management | 2,300,000 | 5.4% |
[Information for NJ Tech Corner was taken from the company’s SEC filings and other company sources, with the exception of the company’s valuation.]
