Busted Tech: Synchronoss Technologies Inc. Selling for Liquidity

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Well, trying to avoid it at least. Synchronoss Technologies Inc. ($SNCR) this week offloaded Intralinks, a ubiquitous provider of data rooms to the industry's bankers, for approximately $1b to private equity firm, Siris Capital Group LLC, billed as specializing in, among other things, turnaround, special situations and distress. We hope those individual data rooms have some serious privacy safeguards built-in to them. Otherwise, you're about to see Siris Capital's sourcing apparatus on steroids. Yes, we're being cynically flip.