BUFFALO, N.Y., June 27, 2014 (GLOBE NEWSWIRE) -- Synacor Inc. (Nasdaq:SYNC) today issued the following response to an open letter to its Board of Directors received from two of its stockholders:
Synacor values the views and enthusiasm of its stockholders and welcomes constructive input toward our shared goal of maximizing long-term value for all stockholders. Our Board of Directors and management team will continue to embrace an open dialogue with stockholders.
Synacor's Board of Directors, management team and employees remain focused on our strategic priorities to deliver sustainable growth for the benefit of all our stockholders. We are excited about our business and the Company's strategic plan, including our focus on four key areas:
- mobile, emphasizing our Android™ Framework;
- personalized and curated startpages and homescreens;
- TV Everywhere solutions including next-gen Search & Discovery; and
- our award-winning Cloud ID Authentication solutions including Auto, Social Login and SSO.
These strategic investments in new products are essential to future growth, and already Synacor has received strong positive responses from customers across all categories. Synacor's Board, management and employees remain dedicated to our growth plans, new products and emerging market opportunities ahead.
Our Board of Directors regularly reviews Synacor's business strategy and goals and various alternatives to achieve them. Together with Synacor's financial advisers, our Board considers and evaluates all credible proposals for business combinations and other strategic transactions.
Synacor's white-label platform enables cable, satellite, telecom and consumer electronics companies to deliver TV Everywhere, digital entertainment, cloud-based services and apps to their end-consumers across multiple devices, strengthening those relationships while monetizing the engagement. In addition, Synacor offers digital ad inventory for brands wanting a customized, targeted, programmatic means of reaching their audiences. Synacor (Nasdaq:SYNC) is headquartered in Buffalo, NY, with tech hubs in Toronto, Ottawa and Boston, and ad sales offices in New York, Detroit and Los Angeles. For more information, visit synacor.com. All Media. One Place. Any Device.
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This release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of management of Synacor, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other factors affecting the operation of the respective businesses of Synacor. More detailed information about these factors may be found in filings by Synacor, as applicable, with the Securities and Exchange Commission, including their respective Quarterly Report on Form 10-Q. Synacor is under no obligation to, and expressly disclaims any such obligation to, update or alter their respective forward-looking statements, whether as a result of new information, future events, or otherwise.