Syncsort, the global leader in Big Iron to Big Data software, today announced it has signed a definitive agreement to acquire Pitney Bowes’ Software Solutions business. Together, Syncsort and the Pitney Bowes software & data business becomes one of the largest data management software companies in the world and a leader in data quality, serving more than 11,000 customers and hundreds of resellers globally. With its unique scale and broader solution set, the company will offer differentiated capabilities to enterprises seeking to maximize insight from their data.
The acquisition, Syncsort’s largest ever, brings to the company best-in-class location intelligence, data enrichment, customer information management and customer engagement solutions that are highly complementary to its existing portfolio. The combination builds on, and significantly expands, the breadth of Syncsort’s offerings in data quality software and complements existing Syncsort Trillium products. The transaction is expected to close by the end of the calendar year, pending regulatory approvals and other customary closing conditions.
“Our remarkable transformation and rapid growth story continues. We could not be more excited for the next phase of the journey with the Pitney Bowes software products and talented team as part of our world-class organization,” said Josh Rogers, CEO, Syncsort. “Together, we will be one of the leading players in the data management software space and positioned to drive even greater value for customers and partners alike, especially in areas like regulatory compliance, security, data science and hybrid cloud. Leading enterprises are facing significant challenges around the quality of their data, and we will offer unparalleled capabilities for customers to easily integrate, enrich, improve and gain insight from their data.”
The Pitney Bowes software business is based on four key lines including:
- Location Intelligence – products that allow organizations to enrich and analyze location data for enhanced business insights
- Data Enrichment – comprehensive portfolio of business, geographic, and industry-specific data featuring global coverage across 250 countries and territories
- Customer Information Management – software suite that manages data to deeply understand customers and their context to drive superior business outcomes
- Customer Engagement – software to help businesses build brand loyalty, improve customer satisfaction, create new revenue opportunities, and reduce costs
Jared Hendricks, Senior Managing Director at Centerbridge and a lead director on the Syncsort Board commented, “Syncsort’s acquisition of the Pitney Bowes software & data business creates a market leading data management platform. With the company’s unique scale, there is an exceptional opportunity to apply the strength of the combined product portfolios and differentiated expertise of the talented teams to tackle the most complex data management challenges that large and small enterprises face, and support their most strategic initiatives through continued innovation and development.”
The transaction is backed by affiliates of Centerbridge Partners, L.P. and Clearlake Capital Group, L.P. Debt commitments have been provided by Jefferies Finance LLC, Credit Suisse, Golub Capital LLC, and Antares Capital LP. Credit Suisse and Jefferies LLC served as financial advisors to Syncsort. Simpson Thacher & Bartlett LLP served as legal counsel to Syncsort.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global technology company providing commerce solutions that power billions of transactions. Clients around the world, including 90 percent of the Fortune 500, rely on the accuracy and precision delivered by Pitney Bowes solutions, analytics, and APIs in the areas of ecommerce fulfillment, shipping and returns; cross-border ecommerce; office mailing and shipping; presort services; location data; customer information and engagement software; services; and financing. For nearly 100 years Pitney Bowes has been innovating and delivering technologies that remove the complexity of getting commerce transactions precisely right. For additional information visit Pitney Bowes, the Craftsmen of Commerce, at www.pitneybowes.com.
Syncsort is the global leader in Big Iron to Big Data software. We organize data everywhere to keep the world working – the same data that powers machine learning, AI and predictive analytics. We use our decades of experience so that more than 7,000 customers, including 84 of the Fortune 100, can quickly extract value from their critical data anytime, anywhere. Our products provide a simple way to optimize, assure, integrate, and advance data, helping to solve for the present and prepare for the future. Learn more at www.syncsort.com.