Big data software company Syncsort has announced its agreement to buy Pitney Bowes’ software solutions business.
The deal is expected to be finalised later this year, making Syncsort one of the world’s largest data management software companies with over 11,000 clients and hundreds of resellers worldwide.
Syncsort said the acquisition will expand the spectrum of the company’s data quality software offering and will enhance current Syncsort Trillium products. A company release said it will further add value for clients and associates, especially in areas like security, data science, regulatory compliance, and hybrid cloud.
The acquisition will be Syncsort’s largest ever, and adds what the company calls best-in-class location intelligence, data enrichment, customer information management and customer engagement solutions that are highly complementary to its existing portfolio.
Marc B. Lautenbach, President and CEO, Pitney Bowes said, “Our software and data business has made great progress over the last few years achieving two consecutive years of growth and I am very confident of the prospects for this business going forward.
“We have always said, however, if a business was worth more to someone else than to us, we would consider a sale. The sale of our Software Solutions business to Syncsort confirms that philosophy. Our software and data business, together with Syncsort, provides instant scale that creates value for our clients, partners, and the Pitney Bowes Software Solutions team,” added Lautenbach.
Josh Rogers, CEO, Syncsort, commented, “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. 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.”
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