Synchronoss Technologies Inc. (SNCR) stock surged up 20% in after-hours trading after buyout shop Siris Capital Partners said in a securities filing that the two companies have "determined to restart discussions" about a potential transaction.

Siris said it plans to negotiate with Synchronoss about the possibility that it would acquire its secure data sharing platform Intralinks Holdings Inc. for $915 million in cash. Siris would also negotiate with the company about making a $185 million investment in preferred equity, which would be convertible into a 20% common share stake.

Synchronoss had previously acquired secure data sharing platform Intralinks for $821 million, adding to the diversity of its clients.

The two sides entered into an exclusivity agreement, which expires on Oct. 11, according to the Siris securities filing.

The move comes after Synchronoss said Oct. 2 that Siris Capital could take a walk. Siris, which offered $18 per share in cash for Synchronoss in June, had told the company that it would end discussions unless it could engage in exclusive negotiations. Synchronoss declined.

Bridgewater, N.J.-based Synchronoss provides a range of services to telecoms and large corporations, ranging from cloud services and mobile backup to messaging and Internet of Things analytics.

Clients include major corporations such as Inc. ( (AMZN - Get Report) ), Apple Inc. ( (AAPL - Get Report) ), Comcast Corp. ( (CMCSA - Get Report) ), Dell Inc., Goldman, Sachs & Co. ( (GS - Get Report) ) and Microsoft Corp. ( (MSFT - Get Report) ). AT&T Inc ( (T - Get Report) ) and Verizon Communications Inc. ( (VZ - Get Report) ) are by far Synchronoss' largest customers, however, providing 62% of its net revenues in 2016.

-- Chris Nolter contributed to this report

More of What's Trending on TheStreet: