The company agreed to pay about $18 million cash for Wisor Telecom, a provider of automation-order software and services.After being hit on Friday with a lawsuit alleging securities fraud, Synchronoss Technologies Inc. (Nasdaq: SNCR) today announced some more positive news. The company has agreed to pay about $18 million cash for Wisor Telecom, a privately held company based in Frederick, Md.
Bridgewater-based Synchronoss provides on-demand transaction management software for communications service providers, including AT&T”s wireless network. Wisor provides automation-order software and services.
Synchronoss said it expects to close the deal by Monday.
The company”s stock opened today at $11.39, up from $11.22 at yesterday”s close.