Synacor, the Buffalo, NY-based online portals and IS services provider, has filed for an IPO to raise $86.25 million. Underwriters are Deutsche Bank Securities, Bear Stearns & Co. Inc., Thomas Weisel Partners, Canaccord Adams and Montgomery & Co., and it is seeking a Nasdaq listing under the symbol “SYNC.” The full S-1 is here.

SEE ALSO: Portal Content Distribution Firm Synacor Gets $17 Million

Synacor builds and runs “portals” or home pages for mid to small sized ISPs….for example, Charter Communications relies on Synacor for its portal at Charter.net. Recently it signed a deal to provide premium online services to Time Warner Cable’s Road Runner subscribers. Its content providers include, among others, CinemaNow, CNN, Encyclopedia Britannica, Fox Sports Interactive Media, MLB Advanced Media, MusicNet and Nascar. It was founded in February 2001, as the result of a merger between two Internet tech companies Chek.com and MyPersonal, both founded in 1998. The company recapitalized in 2002, and has since raised three rounds. Intel Capital is one of the main investors, with a 11.8 percent stake. Others are Walden International, with 26 percent, Crystal Internet Ventures with 22.5 percent, and Advantage Capital Partners with 15.8 percent.

For Q1 this year, Synacor reported a loss of $820K, compared with a loss of $297K the year-ago period. The company reported revenues of $8.7 million, compared with $5.9 million in the year-ago quarter. Its Google-reliance factor, from the filing: “Google-related revenues accounted for approximately 49.7% of our net sales in 2006 and 46.3% of our net sales in the three months ended March 31, 2007. Our agreement with Google, which was renewed in July 2006, expires in July 2008, unless we and Google mutually elect to renew it.”

PEHub: Synacor has raised around $54 million in VC funding since 1999, including a $17 million Series C round last year 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.