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Synchronoss Technologies Inc. said Tuesday it has agreed to acquire cloud company Intralinks Holdings Inc. in a deal with an equity value of about $821 million. Synchronoss will pay $13 per Intralinks share in a deal expected to close late in the first quarter of 2017. Ron Hovsepian, chief executive of Intralinks, will become CEO of the combined company, with Synchronoss founder and current CEO Stephen Waldis taking the role of executive chairman of the board. “Together with Synchronoss, we believe we can deploy enhanced enterprise and mobile solutions to our customers while opening up new enterprise distribution channels across the world,” Hovsepian said in a statement. Synchronoss is expecting the deal to have no impact on its fourth-quarter financials. It offered initial 2017 guidance of revenue of between $810 million and $820 million and pro forma EPS of $2.45 to $2.60. The company is targeting $40 million of combined synergies within the first year of closing. Intralinks shares were indicating higher premarket, while Synchronoss shares were halted. S&P 500 futures were up 0.3%.

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From:: Stock Market News

Shares of AutoZone Inc. rose 0.8% in premarket trade Tuesday, after the auto parts retailer reported fiscal first-quarter earnings that beat expectations, but sales that came up a bit short. Earnings for the quarter to Nov. 19, rose to $278.1 million, or $9.36 a share, from $258.1 million, or $8.29 a share, in the same period a year ago. The FactSet consensus for earnings per share was $9.31. Revenue increased 3.4% to $2.47 billion from $2.39 billion, below the FactSet consensus of $2.49 billion. Domestic same-store sales grew 1.6%, missing the FactSet consensus of 2.1%. Total auto parts sales, excluding domestic commercial, rose to $1.93 billion from $1.87 billion, matching the FactSet consensus of $1.93 billion. The stock gained 4.7% year to date through Monday, while the S&P 500 has climbed 7.9%.

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Roper Technologies Inc. said Tuesday it has entered an agreement to buy Deltek in an all-cash deal valued at $2.8 billion. Roper said it expects the deal too boost 2017 cash flow by $80 million, to deliver $535 million of revenue and $200 million of EBITDA, excluding the impact of fair value accounting of Deltek’s deferred revenue. Roper makes software for the health care, transportation, food, energy, water, education and other markets. Deltek makes software for project-based businesses serving niche markets, including government contractors. The deal is expected to close before year-end. Roper will host a conference call on the transaction at 9.00 a.m. Eastern. Shares were not yet active in premarket trade, but are down 4.3% in the year so far, while the S&P 500 has gained 7.9%.

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From:: Stock Market News

House builder Toll Brothers Inc. on Tuesday said fiscal fourth-quarter profit slid 16%, with profit hit by inventory- and warranty charges. Net income fell to $114.4 million, or 67 cents a share, from $147.2 million, or 80 cents a share, in the year-ago period. Revenue rose to $1.86 billion from $1.44 billion last year. Toll Brothers said the drop in earnings was due to $2.5 million of inventory impairments and a $121.2 million warranty charge primarily related to older stucco homes. Adjusting for those charges, profit came in at $291.8 million, compared to $236.7 million in the fourth quarter last year. Shares of the house builder were unchanged in premarket trade.

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Netherlands-based JBS Foods International is seeking to raise around $500 million in an initial public offering, according a Securities and Exchange Commission filing submitted on Monday. JBS, one of the world’s largest food companies, reported net revenue of $33.71 billion and adjusted earnings before interest, taxes, depreciation, and amortization of $2.06 billion in the first nine months of the year.

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From:: Stock Market News