Synacor Cancels IPO


Synacor Inc., a Buffalo, N.Y.-based provider of online content and technology solutions for broadband and Internet service providers, has withdrawn registration for an $86.25 million IPO, citing “current market conditions.” The company had originally filed in August 2007, with Deutsche Bank and Bear Stearns serving as co-led underwriters.

Synacor has raised around $54 million in VC funding since 1999, including a $17 million Series C round in 2006 at a post-money valuation of around $100 million. Shareholders include North Atlantic Capital, Mitsui & Co. and return backers Crystal Ventures, Advantage Capital Partners, Walden International, Intel Capital and Rand Capital. www.synacor.com

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