SYNC - Synacor shares surge on $92 million merger agreement with Centre Lane firm

Synacor (SYNC) has entered into a definitive agreement and merger plan with an affiliate of investment firm Centre Lane Partners in an all-cash deal that values Synacor at $92M.Centre Lane will commence a tender offer to acquire all issued and outstanding SYNC shares for $2.20 in cash per share, a 23% premium to the 60-day volume weighted average stock price as of February 10.Once the tender offer is complete, Centre Lane will acquire the remaining shares at the same price in a second-step merger, which is expected to close in Q2.After the deal closes, Synacor shares will be removed from public trading.SYNC shares are up 11.8% pre-market to $2.18.Press release.

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Synacor shares surge on $92 million merger agreement with Centre Lane firm