Synchronoss Technologies, Inc. (NASDAQ: SNCR) is having an incredibly strong start in the pre-market trading hours today, and for good reason. In an SEC filing, investors learned that a fund has purchased a large stake in the company. Of course, this led to excitement among investors, sending the stock upward and prompting our partners at Trade Ideas to alert us to the movement. At the moment (8:49), SNCR is trading at $18.40 per share after a gain of $2.95 per share or 19.09% thus far today.
Siris Capital Gains On Large Stake Purchase
As mentioned above, Synchronos Technologies is having an incredibly strong start in the market today after an SEC filing showed a large stake purchase. In fact, Siris Capital has purchased 12.93% of the company. However, that’s not the only news that’s exciting investors. According to various reports, Siris Capital also discussed taking SNCR private.
The idea that Siris wanted to take the company private is incredible news to investors, especially since such a large stake was purchased. Ultimately, this could open the door to a potential take-private acquisition at some time down the line, which is yet another source of excitement for investors.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SNCR. In particular, we’ll be watching to see how the stake purchased by Siris Capital leads to growth in the stock and whether or not we will see an acquisition at some time down the road, and possibly soon. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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