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Synchronoss Technologies Inc. (SNCR) Is Heading Higher After Acquisition

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Synchronoss Technologies Inc. (SNCR: Quote) announced after the close Thursday that it has acquired NewBay, a wholly owned subsidiary of Research in Motion (RIMM: Quote) for $55.5 million in cash.

Synchronoss Technologies has been rising since the open Friday and is now up 0.43 at $20.92. The stock has been gaining ground for the last month and has climbed to its highest level since early November.

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by RTT Staff Writer

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