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Lumine Group snags Synchronoss for $116M
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Lumine Group snags Synchronoss for $116M
Lumine Group struck a deal to buy software cloud company Synchronoss Technologies for $116.4 million, an attempt to position both companies for growth in the mobile cloud storage market. Toronto, Canada-based Lumine Group will acquire Synchronoss for $9 per share, a roughly 70 per cent premium to the stock’s 3 December closing price. The companies stated the deal implies an enterprise value of $258.4 million. Lumine Group will broaden its reach …
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