Synchronoss Successfully Completes Tender Offer to Acquire Intralinks Holdings, Inc.
January 19 2017 - 8:20AM
Business Wire
Synchronoss Technologies, Inc. (NASDAQ: SNCR) today announced
that it has successfully completed its tender offer to acquire all
outstanding shares of Intralinks Holdings, Inc. (NYSE: IL) at a
price of $13.00 per share in cash, without interest and subject to
any required withholding taxes.
Intralinks has been used by more than three million
professionals at 99% of Fortune 1000 companies, who have depended
on the company’s experience in enabling high-stakes transactions
and business collaborations around the globe. To date, $31.3
trillion worth of financial transactions have been executed on
Intralinks’ secure, cloud-based platform, making Intralinks the
preferred provider of enterprise collaborative technology.
In connection with the acquisition, Synchronoss is paying $13.00
per Intralinks share in cash. Synchronoss has completed the tender
offer for all outstanding shares of Intralinks by accepting for
payment all such shares validly tendered and not properly withdrawn
as of the expiration time of the tender offer (including shares
delivered pursuant to notices of guaranteed delivery), which
represented approximately 81.8% of Intralinks’ outstanding shares.
Subsequently, a wholly owned subsidiary of Synchronoss is expected
to merge with and into Intralinks, resulting in Intralinks becoming
a wholly owned subsidiary of Synchronoss. All remaining shares of
Intralinks not purchased by Synchronoss in the tender offer (other
than shares held by Intralinks as treasury stock and shares subject
to properly exercised appraisal rights claims) will be converted
into the right to receive the aforementioned cash payment upon
consummation of the merger, which is expect to occur promptly
today. A notice of delisting with respect to shares of Intralinks
is expected to be filed promptly by the New York Stock
Exchange.
About Synchronoss Technologies, Inc.
Synchronoss Technologies, Inc. (NASDAQ: SNCR) is the leading
innovator of cloud solutions and secure enterprise productivity
software for companies across the globe. The company’s proven,
scalable and patented technology solutions allow customers to
connect and synchronize connected devices and services that empower
enterprises and consumers to live in a connected world. For more
information visit us at: www.synchronoss.com.
Forward-looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. These forward-looking statements
include statements regarding acquisition synergies and benefits to
Synchronoss, the expected consummation of the merger, the expected
delisting of Intralinks shares from the New York Stock Exchange and
the other risk factors set forth from time to time in Synchronoss’
most recent Annual Report on Form 10-K, Synchronoss’ most recent
Quarterly Report on Form 10-Q and Synchronoss’ other filings with
the SEC, copies of which are available free of charge at the SEC’s
website at www.sec.gov or upon request
from Synchronoss’ investor relations department. All
forward-looking statements herein reflect Synchronoss’ opinions
only as of the date of this release, and Synchronoss undertakes no
obligation, and expressly disclaim any obligation, to update
forward-looking statements herein in light of new information or
future events.
Synchronoss and the Synchronoss logo are trademarks of
Synchronoss Technologies, Inc. All other trademarks are property of
their respective owners.
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Synchronoss Technologies, Inc.Investor and
Media:Daniel Ives, +1 908-524-1047
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