Synchronoss To Buy Intralinks; Ron Hovsepian To Be Appointed CEO Of Synchronoss

(RTTNews) - Synchronoss Technologies, Inc. (SNCR) and Intralinks Holdings, Inc. (IL) announced they have entered into a definitive agreement for Synchronoss to acquire Intralinks for approximately $821 million in equity value. Intralinks Holdings is a global content collaboration company that provides cloud-based solutions to control the sharing, distribution and management of high value content within and across organizations according to the highest-level of security and the most stringent compliance regulations. Synchronoss will commence a cash tender offer to acquire all of the outstanding common stock of Intralinks for $13.00 per share.

Ron Hovsepian, CEO of Intralinks, is expected to be appointed CEO of Synchronoss and join the Synchronoss Board. Synchronoss' current CEO, Stephen Waldis will move into the role of active Executive Chairman of the Board.

Synchronoss also announced an agreement to divest a portion of its activation business to Sequential Technology International, LLC for a total purchase price of $146 million. Synchronoss expects to finance the Intralinks acquisition with its existing cash, proceeds from the Sequential Technology transaction, and $900 million of new debt.