Syncsort closed on Monday 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 company brings together scale, agility and breadth of portfolio to empower enterprises to gain a competitive advantage from their data.
The transaction is backed by affiliates of Centerbridge Partners and Clearlake Capital. Debt commitments were provided by Jefferies Finance, Credit Suisse, Golub Capital, Barclays Bank, Deutsche Bank, 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.
The combined portfolio brings together 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 integrate, enrich and improve data assets to maximize insights.
“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,” said Paige Bartley of 451 Research. “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.”
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