Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, February 4, 2015

BRIEF-F-Secure to sell personal cloud business operations to Synchronoss, (NASDAQ: SNCR)

F-Secure Oyj : * F-Secure Corporation to sell its personal cloud business operations to Synchronoss Technologies to strengthen its focus on security* Value of transaction is $60 million in cash* Closing of transaction is expected by end of February* Transaction's overall impact on F-Secure's operating profit in 2015 is estimated be close to 20 million euros ($22.92 million) positive with current exchange rate

Synchronoss Technologies, Inc. and its consolidated subsidiaries are a mobile innovation company that provides cloud solutions and software-based activation for connected devices. Shares of SNCR traded higher by 3.89% or $1.69/share to $45.14. In the past year, the shares have traded as low as $25.28 and as high as $54.05. On average, 600944 shares of SNCR exchange hands on a given day and today's volume is recorded at 761098.