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B. RILEY FINANCIAL, INC.

(RILY)
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B Riley Financial : Martin Bernstein Joins Synchronoss Board of Directors

07/12/2021 | 04:05pm EDT

BRIDGEWATER, N.J., July 12, 2021 (GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader and innovator of cloud, messaging and digital solutions, is pleased to announce that Martin Bernstein has joined its Board of Directors, effective immediately.

Bernstein was appointed to the Board in connection with the recent recapitalization of Synchronoss, and serves as a representative of B. Riley Financial, Inc. (NASDAQ: RILY) (B. Riley), the company’s largest shareholder.

“On behalf of our entire Board, I am pleased to welcome Marty to our team,” said Stephen Waldis, Founder and Executive Chairman of the Synchronoss Board of Directors. “Marty’s extensive experience in capital allocation strategies, corporate governance and financing will serve our organization well. I have no doubt that his impressive knowledge and extraordinary track record will not only benefit our already strong board, but I fully expect his impact will be key to helping Synchronoss achieve its strategic growth objectives.”

Bernstein represents B. Riley Principal Investments, an affiliate of B. Riley that makes direct investments in companies with proven platform technologies with significant near-term growth potential. He currently serves as Head of Private Investments at B. Riley and is responsible for sourcing, underwriting and managing company investments in addition to leading distribution to the firm's syndication partners. Bernstein has extensive experience leading investments across technology, transportation, automotive, aerospace, manufacturing, power, infrastructure, and other sectors.

Bernstein commented, “It is an honor to join the Synchronoss board after working closely with Steve, Jeff, and the entire Synchronoss team on the recent recapitalization. I share management’s excitement and vision for the company, rooted in continued innovation and a best-in-class suite of white label products for leading telecom customers. We believe the Synchronoss business is at an inflection point and is well-positioned to execute on its growth strategy following the refinancing. I look forward to continuing to work with the team as a member of the board as we endeavor to create value for stakeholders and customers.”

Prior to joining B. Riley in March 2021, Bernstein was with Anchorage Capital responsible for leading investments across capital structures, including public equities, private equity, performing credit, bank debt and distressed debt, and restructuring situations. He previously worked as an analyst at Bocage Capital, and was on the investment team for the endowment at Howard Hughes Medical Institute. Bernstein earned an AB in history from Dartmouth College. He is based in Connecticut.

About Synchronoss

Synchronoss Technologies (NASDAQ: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services and content they love. That’s why more than 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com

Contacts

Media
Anais Merlin, CCgroup (International)
Diane Rose, CCgroup (North America)
synchronoss@ccgrouppr.com

Investors
Todd Kehrli/Joo-Hun Kim, MKR Investor Relations, Inc.
investor@synchronoss.com


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Source: Synchronoss Technologies, Inc.

2021 GlobeNewswire, Inc., source Press Releases - Canada

Stocks mentioned in the article
ChangeLast1st jan.
B. RILEY FINANCIAL, INC. -2.01% 58.46 Delayed Quote.32.20%
SYNCHRONOSS TECHNOLOGIES, INC. -1.61% 2.45 Delayed Quote.-47.87%
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Financials (USD)
Sales 2020 795 M - -
Net income 2020 205 M - -
Net Debt 2020 174 M - -
P/E ratio 2020 5,85x
Yield 2020 2,66%
Capitalization 1 612 M 1 612 M -
EV / Sales 2019 1,79x
EV / Sales 2020 1,63x
Nbr of Employees 996
Free-Float 56,7%
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Managers and Directors
Bryant Richard Riley Chairman & Co-Chief Executive Officer
Thomas John Kelleher Co-Chief Executive Officer & Director
Kenneth M. Young President
Phillip J. Ahn Chief Operating & Financial Officer
Daniel Shribman Chief Investment Officer
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