Synchronoss Technologies Inc (NASDAQ:SNCR) announced it has been added to the US small-cap Russell 2000 Index as part of the 2025 annual reconstitution of Russell indexes.
The company’s inclusion will take effect after markets open on June 30 and will remain in place for one year.
Synchronoss was also automatically added to the appropriate growth and value indexes, the company said in a statement.
“Our inclusion in the Russell 2000 Index is a tremendous validation of our team’s relentless dedication and the significant progress we have made in executing our strategic vision,” said Jeff Miller, CEO of Synchronoss, in a statement.
“This important milestone not only enhances our visibility within the investment community but also reaffirms our business strategy focused on delivering innovative cloud solutions for telecom and mobile operators that leverage AI, machine learning and other core technologies.”
Russell indexes are widely tracked by investment managers and institutional investors, with approximately $10.6 trillion in assets benchmarked against the Russell US indexes as of June 2024, according to FTSE Russell.
The annual reconstitution of the Russell indexes ranks US stocks by market capitalization and reassigns them to the appropriate indexes to ensure accurate representation of the marketplace.