Synacor, Inc. raised $34.1 million in its initial public offering at $5.00 per share. Needham acted as a co-manager on the transaction. The net proceeds from the sale of the shares will be used by Synacor, Inc. intends to use the net proceeds from this offering for working capital and other general corporate purposes. Synacor, Inc. may also use a
portion of the net proceeds to acquire other businesses, products or technologies.
Synacor, Inc. (NASDAQ: SYNC) is a leading provider of authentication and aggregation solutions for delivery of online content and services. Synacor delivers its solutions as a set of services through its hosted and managed platform, enabling cable and telecom service providers and consumer electronics manufacturers to provide the online content and services that their consumers increasingly demand. Synacor's platform allows its customers to package a wide array of online content and services with their high-speed Internet, communications, television and other offerings. Synacor's customers offer its services under their own brands on Internet-enabled devices such as PCs, tablets, smartphones and connected TVs. Synacor is headquartered in Buffalo, NY.