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Synacor sets IPO terms, looks to raise $75 million

January 30, 2012

Synacor, which aggregates online content and services, including e-mail and games, for ISPs and devices, announced terms for its IPO on Monday. The Buffalo, NY-based company plans to raise $75 million by offering 6.8 million shares at a price range of $10.00 to $12.00. At the mid-point of the proposed range, Synacor will command a market value of $326 million. It withdrew a previous IPO filing in October 2008. Sales were $80 million for the 12 months ended September 30, 2011. Synacor, which was founded in 1998, plans to list on the NASDAQ under the symbol SYNC. BofA Merrill Lynch and Citi are the lead underwriters on the deal.