Share this article

print logo

Synacor management holds off challenge from dissident shareholders

Synacor Inc.’s management held off a challenge from dissident investors who were trying to gain control of three seats on the Buffalo Internet content provider’s board of directors.

Synacor’s management-backed slate of three directors, including new CEO Himesh Bhise, were elected to the company’s board of directors this morning, defeating a slate of three candidates that were supported by a pair of dissident shareholders who control nearly 10 percent of Synacor’s stock.

The official results of the voting have not yet been released, but Synacor Chairman Jordan A. Levy said after the meeting Monday morning the unofficial tally indicated that the dissident-backed slate had been defeated.

The results are a victory for Synacor’s management over disgruntled shareholders who have been pushing for major changes in Synacor’s operations, including a possible sale of the company, which employs about 200 people at its waterfront headquarters.