Syncsort Completes Acquisition of Pitney Bowes Software and Data Business for $700 Million

Syncsort Corp. closed the acquisition of the Pitney Bowes, Inc.‘s software and data business, creating a data management software company with more than 11,000 enterprise customers, $600 million in revenue and 2,000 employees worldwide.

The new company brings a combination of scale, agility and breadth of portfolio to empower 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-gen technologies like cloud, streaming and ML, 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 capabilities in location intelligence, data enrichment, customer information management and engagement solutions with data integration and optimization software. These end-to-end capabilities will empower enterprises to overcome 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 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, Inc. 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.