NEW YORK, Nov. 14, 2017 /PRNewswire/ -- Siris Capital
Group, LLC ("Siris") today announced that investment funds
affiliated with Siris have completed the previously disclosed
acquisition of Intralinks Holdings, Inc. ("Intralinks") from
Synchronoss Technologies, Inc. ("Synchronoss") (NASDAQ: SNCR).
Leif O'Leary, the new Chief
Executive Officer of Intralinks, commented: "Today marks our return
as an independent company, and we are excited and energized to
partner with Siris to attack the many opportunities before
us. The newly refocused Intralinks is already writing the
next chapter in our history with investments in a new user
interface and Artificial Intelligence integrated into our
platform. This is proof that we remain committed to
accelerating our growth and innovation strategies. We are
well positioned to execute our standalone strategic plan and
continue delivering our solutions to the global banking, deal
making and capital markets communities."
Al Zollar, executive partner at
Siris, commented: "Under the leadership of Leif and his executive
team, I am confident that Intralinks will thrive in its next phase
of growth. For more than 20 years, Intralinks has been an
industry leader and innovator, and today is the next step in the
company's long and proud history in the secure enterprise
collaboration space. I know that Siris is excited to welcome
Intralinks to the Siris portfolio."
As previously disclosed on October 17,
2017, and under the terms of a separate definitive
agreement, investment funds affiliated with Siris agreed to make an
investment in convertible preferred equity of Synchronoss in an
amount of $185 million, subject to
the terms and conditions of that agreement, which Synchronoss has
previously publicly filed. Subject to satisfaction of the
closing conditions in that agreement, this investment is expected
to be completed in the first quarter of 2018.
Financing and Advisors
Equity financing was provided by investment funds affiliated
with Siris and certain co-investors. Debt financing for the
Intralinks transaction was arranged by RBC Capital Markets, Golub
Capital and Macquarie Capital. Evercore, Macquarie Capital
and Moelis & Company LLC acted as financial advisors to Siris.
Wachtell, Lipton, Rosen & Katz acted as corporate counsel
to Siris and Greenberg Traurig, LLP acted as financing counsel to
Siris in connection with the transactions.
About Intralinks, Inc. | Intralinks
Intralinks is a leading financial technology provider for the
global banking, deal making and capital markets communities.
As pioneers of the virtual data room, Intralinks enables and
secures the flow of information facilitating strategic initiatives
such as mergers and acquisitions, capital raising and investor
reporting. In its 20-year history Intralinks has earned the
trust and business of more than 99 percent of the Global Fortune
1000 and has executed over $34.7
trillion worth of financial transactions on its platform.
For more information, visit www.intralinks.com.
About Siris Capital Group, LLC | Siris Capital
Siris is a leading private equity firm focused on making control
investments in data, telecommunications, technology and
technology-enabled business service companies. Integral to
Siris' investment approach is its partnership with exceptional
senior operating executives, or Executive Partners, who work with
Siris to identify, validate and operate investment opportunities.
Their significant involvement allows Siris to partner with
management to add value both operationally and strategically.
To learn more, visit us at www.siriscapital.com.
Forward-Looking Statements
This press release contains forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of
1995, including with respect to the proposed transactions between
Siris and Synchronoss, including statements regarding the benefits
of the proposed transactions and the anticipated timing of the
proposed transactions. Forward-looking statements can be
generally identified by the use of words such as "may," "should,"
"expects," "plans," "anticipates," "believes," "estimates,"
"predicts," "intends," "continue" or similar terminology.
These statements reflect only Siris' current expectations and are
not guarantees of future performance or results. These
statements are subject to various risks and uncertainties that
could cause actual results to differ materially from those
contained in the forward-looking statements. These risks and
uncertainties include, but are not limited to, the effect of the
announcement or pendency of the proposed transactions on
Intralinks's business relationships, operating results, and
business generally; the risk that revenue opportunities, cost
savings, synergies and other anticipated benefits from the proposed
transactions may not be fully realized or may take longer to
realize than expected; and risks related to the equity and debt
financing entered into in connection with the proposed
transactions. These forward-looking statements speak only as
of the date on which the statements were made. Siris undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise, except to the extent required by applicable law.
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SOURCE Siris Capital Group, LLC