Exhibit 99.2
May 4, 2017
Board of Directors
Synchronoss Technologies, Inc.
200 Crossing Boulevard, 8th Floor
Bridgewater, NJ 08807
Gentlemen:
Affiliates of Siris Capital Group, LLC (collectively, “Siris” or “we”) recently acquired 5,994,667 shares of Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) common stock, representing approximately 12.9% of the outstanding shares. We have followed the Synchronoss story for a number of years and are pleased to be a significant shareholder of the Company. We are supportive of the Company’s Board and there-established management team, and we look forward to the opportunity to engage with you in a meaningful, constructive manner.
Siris is a New York-based private equity firm whose principals have a long and successful track record of investing in technology and telecom companies. We may occasionally take positions in public securities in cases where we believe the market price represents an attractive investment opportunity and where we believe Siris could help create value through our institutional resources, capabilities, and expertise.
We believe Synchronoss has strong assets in its portfolio that are well-positioned to address both the carrier and enterprise markets. Based on publicly-available information, we would be interested in discussing with you potential strategic transactions, which may include a take-private or significant minority investment.
With your approval, we look forward to discussing soon the possibility of a mutually beneficial transaction.
Overview of Siris Capital
Siris focuses on telecom and technology businesses that we believe are misunderstood by the public markets. For example, companies may undergo a management change, possess a complex portfolio of assets, have significant customer concentration, navigate a technology transition, or provide a deeply technical solution. Together with our “Executive Partners,” we study this complexity and look to help management teams define and execute a strategy to maximize value. A list of our current portfolio companies and what they do is attached inAnnex A.
Our Executive Partners are former senior operating executives in our technology and telecom focus areas. Primarily engineers by background, they have an average of over 20 years of experience in industry. Our Executive Partners support Siris’ thematic approach to investing and are available to serve as advisors to management teams to help define and execute strategy.
| Siris Capital Group, LLC |
| By: |
/s/ Frank Baker |
| Frank Baker |
| Managing Partner |
Annex A
Company | Investment Date | Business Overview | ||
| Polycom | Sep-2016 | Provider of open, standards-based UC solutions for voice and video communication and content sharing | ||
| Mavenir Systems | Aug-2016 | Provider of mission-critical network infrastructure software to mobile network operators with offerings for messaging, voice & video, security, access & core, and value-added services | ||
| PGi | Dec-2015 | Provider of audio conferencing and web and video collaboration solutions for large global enterprises andmid-market / SMB customers | ||
| Digital River | Feb-2015 | Provider ofend-to-end outsourcede-commerce, payments and marketing solutions | ||
| Pulse Secure | Oct-2014 | Provider of secure enterprise connectivity, granular policy control, mobile productivity, and singlesign-on solutions | ||
| Stratus Technologies | Apr-2014 | Provider of fault tolerant and high availability technology solutions, which prevent downtime of mission-critical applications | ||
| Transaction Network Services | Feb-2013 | Provider of data communications solutions serving the telecom, payment, and financial services industries | ||
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