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.]

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