Syncsort Acquires Pitney Bowes' Software Business
Syncsort today announced plans to acquire Pitney Bowes' Software Solutions business. Financial terms of the deal were not disclosed, but this is reported to be Syncsort's largest acquisition ever.
The acquisition includes Pitney Bowes' location intelligence, data enrichment (with a portfolio of business, geographic, and industry-specific data across 250 countries and territories), customer information management, and customer engagement solutions and builds on Syncsort's offerings in data quality software.
"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 of Syncsort, in a statement. "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."
"Syncsort's acquisition of the Pitney Bowes software and 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," said Jared Hendricks, senior managing director of Centerbridge and a lead director on the Syncsort board, in a statement.