UBS Sets Price Target for Synchronoss Technologies Amid Acquisition by Lumine Group

Core Viewpoint - UBS has set a price target of $9 for Synchronoss Technologies, indicating a modest increase from its current trading price of $8.71, which aligns with the acquisition price set by Lumine Group Inc. [1][6] Acquisition Details - Halper Sadeh LLC is investigating the fairness of Lumine Group's acquisition of Synchronoss, valued at approximately $116 million, which represents a significant 70% premium over SNCR's closing price on December 3 [2] - The acquisition will take Synchronoss private, aiming to accelerate growth and innovation while retaining its brand and continuing operations from its New Jersey headquarters [3][6] Stock Performance - SNCR's stock is currently priced at $8.71, reflecting a significant increase of 64.25% from previous levels, with fluctuations between $8.67 and $8.87 [4] - Over the past year, SNCR has seen a high of $12.85 and a low of $3.98, with a market capitalization of approximately $100.17 million [4] Management Perspective - Jeff Miller, CEO of Synchronoss, expressed enthusiasm about the partnership with Lumine Group, highlighting the immediate value it brings to shareholders and the potential to enhance mobile cloud storage offerings [5]