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Reuters: Siris Capital lines up $650M for Synchronoss unit

Published 10/20/2017, 02:31 PM
Updated 10/20/2017, 02:31 PM
© Reuters.  Reuters: Siris Capital lines up $650M for Synchronoss unit
  • Siris Capital lines up $650M of loans to finance its $977M buyout of Synchronoss’ (NASDAQ:SNCR) mobile cloud company, according to Reuters sources.
  • The financing includes a $450M secured loan with first priority claim due 2024 and a $150M loan with claim due in 2025. Siris will contribute $440M.
  • Siris previously offered about $835M to acquire all of Synchronoss but later withdrew that offer to instead buy the Intralink unit.
  • Previously: Synchronoss to sell Intralinks unit to Siris Capital for $1B; shares up 12% premarket (Oct. 17)
  • Now read: Finjan Holdings (FNJN) Presents At 3rd Annual Dawson James Small Cap Growth Conference 2017 - lideshow


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