Syncsort Finalizes Acquisition of the Pitney Bowes Software and Data Business

Syncsort has completed the acquisition of the Pitney Bowes 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.

“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 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 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.

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.

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