Synacor shares soar on Verizon agreement
Synacor expands television offerings with Verizon; shares soar
BUFFALO, N.Y. (AP) -- Synacor Inc. shares soared Wednesday after the company struck a deal that will expand access to television shows and movies available online to Verizon's 5 million FiOS television subscribers.
The companies said the deal will allow Verizon FiOS customers to access many of their favorite shows through one site and with one log-in.
Financial details were not disclosed.
Synacor, based in Buffalo, N.Y., provides technology that verifies pay TV subscribers and allows them to access online streams of programming. It works with companies like Verizon to help them provide content to customers.
Synacor soared by 96 cents, or 33 percent, to $3.87 in afternoon trading. Verizon Communications Inc. fell 68 cents to $53.23.
