---
schema_version: "secwatch.filing_event.v1"
accession: "0001131554-23-000075"
form_type: "8-K"
ticker: null
cik: "0001131554"
company_name: "SYNCHRONOSS TECHNOLOGIES INC"
filed_at: "2023-11-03T23:59:59+00:00"
generated_at: "2026-06-08T21:59:36.643594+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Synchronoss sells Messaging & NetworkX to Lumine Group for up to $41.8M, becomes pure-play cloud company

## Summary
- Total consideration up to $41.8M; initial cash payment of $31.3M, plus escrow of $7.2M and earnout up to $3M on FY2023 revenue.
- $10M of proceeds to redeem Series B Preferred Stock, improving capital structure.
- Go-forward cloud business targets gross margins >70% and adjusted EBITDA margins >25% by end of FY2024.
- Pro forma revenue for H1 2023 would be $83.0M, down from $117.4M as reported, reflecting divested businesses.
- Transaction closes Oct 31, 2023; company sharpens focus as cloud-only; Lumine Group integrates businesses.

## SEC filing metadata
- accession: 0001131554-23-000075
- form_type: 8-K
- cik: 0001131554
- company_name: SYNCHRONOSS TECHNOLOGIES INC
- filed_at: 2023-11-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.01, 3.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1131554/000113155423000075/0001131554-23-000075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1131554/000113155423000075/sncr-20231031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001131554-23-000075
- JSON: https://secwatch.observer/filing/0001131554-23-000075.json
- Plain text: https://secwatch.observer/filing/0001131554-23-000075.txt

## Key facts
- M&A Transactions
  SYNCHRONOSS TECHNOLOGIES INC completed a disposition involving Lumine Group Software Solutions (Ireland) Limited for up to $41,800,000 (closed 2023-10-31).
  - Action: disposition
  - Counterparty: Lumine Group Software Solutions (Ireland) Limited
  - Consideration: up to $41,800,000
  - Closing: 2023-10-31
  source text: On October 31, 2023 (the “Closing Date”), Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) and certain of its affiliated entities (such entities, together with the Company, the “Company Group”) entered into an Asset Purchase Agreement (the “Agreement”) with Lumine Group Software Solutions (Ireland) Limited, a private limited company incorporated under the laws of Ireland, Lumine Group UK Holdco Ltd, Incognito Software Systems Inc., Lumine Group US Holdco, Inc., Lumine Group Australia Holdco Pty Ltd, Openwave Messaging (Ireland) Limited, Razersight Software Solutions Ireland Limited, Spatial Software Solutions Ireland Limited, Razorsight Software Solutions US Inc., and Openwave Messaging US Inc. (such entities, the “Buyer”), pursuant to which the Company Group sold its Messaging and NetworkX businesses (the “Messaging and Digital Businesses”) to Buyer (the “Transaction”) for a total purchase price of up to $41,800,000 (the “Purchase Price”), and Buyer assumed certain liab
  evidence_url: https://www.sec.gov/Archives/edgar/data/1131554/000113155423000075/0001131554-23-000075-index.htm
- Material Agreements
  SYNCHRONOSS TECHNOLOGIES INC entered into Agreement with Lumine Group Software Solutions (Ireland) Limited, Lumine Group UK Holdco Ltd, Incognito Software Systems Inc., Lumine Group US Holdco, Inc., Lumine Group Australia Holdco Pty Ltd, Openwave Messaging (Ireland) Limited, Razersight Software Solutions Ireland Limited, Spatial Software Solutions Ireland valued at up to $41,800,000 (effective 2023-10-31).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Lumine Group Software Solutions (Ireland) Limited, Lumine Group UK Holdco Ltd, Incognito Software Systems Inc., Lumine Group US Holdco, Inc., Lumine Group Australia Holdco Pty Ltd, Openwave Messaging (Ireland) Limited, Razersight Software Solutions Ireland Limited, Spatial Software Solutions Ireland
  - Value: up to $41,800,000
  - Effective: 2023-10-31
  source text: On October 31, 2023 (the “Closing Date”), Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) and certain of its affiliated entities (such entities, together with the Company, the “Company Group”) entered into an Asset Purchase Agreement (the “Agreement”) with Lumine Group Software Solutions (Ireland) Limited, a private limited company incorporated under the laws of Ireland, Lumine Group UK Holdco Ltd, Incognito Software Systems Inc., Lumine Group US Holdco, Inc., Lumine Group Australia Holdco Pty Ltd, Openwave Messaging (Ireland) Limited, Razersight Software Solutions Ireland Limited, Spatial Software Solutions Ireland Limited, Razorsight Software Solutions US Inc., and Openwave Messaging US Inc. (such entities, the “Buyer”), pursuant to which the Company Group sold its Messaging and NetworkX businesses (the “Messaging and Digital Businesses”) to Buyer (the “Transaction”) for a total purchase price of up to $41,800,000 (the “Purchase Price”), and Buyer assumed certain liab
  evidence_url: https://www.sec.gov/Archives/edgar/data/1131554/000113155423000075/0001131554-23-000075-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.