Synchronoss Technologies to Be Acquired by Lumine Group

Synchronoss Technologies, Inc., an active player and innovator in Personal Cloud platforms, announced that it has entered into a definitive agreement to be acquired by Lumine Group Inc., a global buy-and-hold forever acquirer of communications and media software businesses, through one of its wholly-owned subsidiaries in an all-cash transaction that values the company at an implied equity value of approximately $116.4 million and an enterprise value of approximately $258.4 million.Upon closing of the transaction, Synchronoss will become a privately held company.

Under the terms of the agreement, the Company’s shareholders will receive $9.00 per share, subject to adjustment, in cash for each share of common stock they own. The purchase price represents a premium of approximately 70% over the closing price of the Company’s shares as of December 3, 2025, the last full trading day prior to the transaction announcement.

“We are thrilled to join forces with Lumine Group in this transformative partnership,” said Jeff Miller, CEO, Synchronoss. “After three years of collaboration and witnessing firsthand how our former businesses have flourished under Lumine Group’s stewardship, we believe this to be the logical and correct home for our business. For our employees, we believe this will mean more opportunities within a larger organization at scale, while our customers will gain access to enhanced capabilities through Lumine’s diversified portfolio. Furthermore, we believe once this transaction closes it will serve the best interest for our shareholders as it will deliver immediate, tangible value and position our company for long-term growth, representing a tremendous opportunity for our company to accelerate innovation, expand our market reach, and provide additional resources to drive our growth strategy. Together, we will be positioned to lead the next generation of mobile cloud storage solutions and capture a larger share of this rapidly expanding market.”

Tony Garcia, COO, Lumine Group, is looking forward to welcome Synchronoss, which has over 200PB of data stored and a global footprint of millions of meaningfully engaged subscribers globally. Synchronoss will operate under its original brand to stay aligned with its target markets.

“This acquisition will mark Lumine Group’s first acquisition of a public company and reinforce our mission to protect our customers’ brands and mission-critical solutions with our perpetual ownership. As with every acquisition, once the transaction closes, our first priority will be to enable a seamless transition for both customers and employees as we welcome this business to Lumine Group,” said David Nyland, CEO, Lumine Group.

Transaction Details
The Board of Directors of the Company unanimously approved the transaction, which is expected to close in the first half of 2026, subject to approval by the Company’s shareholders and the satisfaction of regulatory approvals and customary closing conditions. Under the terms of the definitive agreement, the $9.00 per share purchase price will be reduced by a proportionate amount of certain Company transaction expenses, if any, in excess of a certain threshold.

The holders of approximately 21% of the Company’s outstanding shares of common stock have agreed to vote all of the shares of Synchronoss common stock owned by them in favor of the transaction.

Upon completion of the transaction, the Company’s common stock will no longer be listed on the Nasdaq Stock Market. The Company is expected to remain headquartered in Bridgewater, New Jersey.

Advisors
TD Cowen is serving as exclusive financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP is serving as legal advisor to the Company. Goodwin Procter LLP is serving as legal advisor to Lumine Group.