Syynchronoss Technologies (SNCR) early Tuesday announced an agreement to buy cloud-based business software provider Intralinks Holdings (IL) for $821 million in cash. Synchronoss offered to pay $13 per share for Intralinks, a 15.4 % premium to its Monday close.
Intralinks stock was up 17%, near 13, in early trading Tuesday.
Synchronoss, No. 37 in the IBD 50 list of growth stocks, makes customer service software for wireless service providers, such as AT&T and Verizon Communications. Intralinks’ software enables companies to securely manage, control, track, search, exchange and collaborate on sensitive information.