Syncsort Completes Acquisition of the Pitney Bowes Software and Data Business
December 02, 2019 12:15 PM Eastern Standard Time - PEARL RIVER, N.Y.--(BUSINESS WIRE)--Syncsort today closed the acquisition of the Pitney Bowes software and data business, creating a powerhouse data management software company with more than 11,000 enterprise customers, $600 million in revenue and 2,000 employees worldwide. The new company brings an unmatched combination of scale, agility and breadth of portfolio to empower leading enterprises to gain a competitive advantage from their data.
“Enterprises everywhere are striving to increase their competitiveness through the strategic use of data. To do this successfully and expand the boundaries of insight, organizations must invest in next-generation technologies like cloud, streaming and machine learning, while simultaneously leveraging and modernizing decades of investment in traditional data infrastructure,” said Josh Rogers, CEO, Syncsort. “With the combination of Syncsort and Pitney Bowes software and data, we are creating a new company that is laser focused on helping enterprises advance their use of data through unparalleled expertise across data domains, disciplines and platforms. As one of the largest data management software companies in the world, our increased scale allows us to expand the scope of partnership with customers so that they can maximize the value of all their data.”
The combined portfolio brings together best-in-class capabilities in location Intelligence, data enrichment, customer information management and engagement solutions with powerful data integration and optimization software. These end-to-end capabilities will empower enterprises to overcome ever-increasing challenges around the integrity of their data so that their IT and business operations can easily integrate, enrich and improve data assets to maximize insights.
According to Paige Bartley of leading information technology research and advisory company, 451 Research, “The ability to derive actionable human intelligence from data requires ensuring that it has been integrated from all relevant sources, is representative and high quality, and has been enriched with additional context and information. Syncsort, as a longtime player in the data management space, is further addressing these issues with the acquisition of Pitney Bowes' Software Solutions assets – technology that complements existing data-quality capabilities to provide additional context and enrichment for data, as well as leverage customer data and preferences to drive business outcomes.”*
The transaction is backed by affiliates of Centerbridge Partners, L.P. and Clearlake Capital Group, L.P. Debt commitments were provided by Jefferies Finance LLC, Credit Suisse, Golub Capital LLC, Barclays Bank PLC, Deutsche Bank AG, SunTrust Bank and UBS AG Antares Capital LP. Credit Suisse and Jefferies LLC served as financial advisors to Syncsort. Simpson Thacher & Bartlett LLP served as legal counsel to Syncsort.
*Syncsort fortifies data management portfolio with Pitney Bowes' Software Solutions pickup, Paige Bartley, August 27, 2019.
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; 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.
At Syncsort, we organize data everywhere to keep the world working. With the closing of the Pitney Bowes software and data business acquisition in December 2019, we now offer powerful data integration and optimization software alongside best-in-class location Intelligence, data enrichment, customer information management and engagement solutions. Together, we form a data management software powerhouse serving more than 11,000 leading enterprises and hundreds of channel partners worldwide. Learn more at www.syncsort.com.