WOODCLIFF LAKE, N.J. and SANTA MONICA, Calif., Nov. 30, 2016
WOODCLIFF LAKE, N.J. and SANTA MONICA, Calif., Nov. 30, 2016 /PRNewswire/ -- Syncsort Incorporated ("Syncsort"), the global leader in Big Iron to Big Data solutions backed by Clearlake Capital Group, L.P. ("Clearlake"), today announced that it has signed a definitive agreement with Harte Hanks, Inc. (NYSE: HHS) to acquire Trillium Software ("Trillium"), a leading global provider of data quality solutions. The acquisition of Trillium will be the largest in Syncsort's history, and brings together market-leading data quality and data integration technology to deliver value at scale in the most demanding enterprise environments. The transaction is subject to regulatory approvals and other customary closing conditions.
The combination of Syncsort and Trillium's complementary product set will enable enterprise customers to seamlessly harness all their valuable data assets for greater business insights, applying high-performance and scalable data movement, transformation, profiling and quality across traditional data management technology stacks and emerging Hadoop and cloud environments.
"With most large enterprises making significant investments in Big Data for business and operational analytics, core data integration and data quality workloads are moving into Hadoop at a rapid pace," said Josh Rogers, CEO, Syncsort. "As a pioneer in bringing high-performance data integration software to the Hadoop ecosystem, Syncsort sees an opportunity to extend our unique value with Trillium's proven, best-of-breed data quality products. Together, we are a clear leader in the data integration and data quality market, and the logical choice for large enterprises seeking to chart a path to Hadoop. We look forward to working closely with Trillium's customers and investing in the great products they have come to rely on."
Syncsort and Trillium both have a substantial number of large enterprise customers seeking to generate new insights by combining traditional corporate data with new information sources from mobile, online, social and Internet of Things ("IoT"). These organizations will continue to rely heavily on next-generation analytic capabilities, creating a growing need for best-in-class data integration and quality solutions to make their Big Data initiatives successful. Together, Syncsort and Trillium will continue to have a strong focus on providing customers with these capabilities for traditional environments, while leading the industry in delivering them for Hadoop and Spark.
"Syncsort has long been a recognized leader in data integration software, and we are excited to partner with Josh and the management team to expand Syncsort's product portfolio to include data quality," added Behdad Eghbali and Prashant Mehrotra of Clearlake. "Combining Syncsort and Trillium creates a leading data integration and data quality software provider of significant scale and further establishes the Company as a platform for accelerated organic and acquisition-based growth. With this acquisition, Syncsort continues to be well-positioned to address the significant market trends around Big Data and to support the needs of our customers."
In November 2016, Trillium was recognized as a Leader in Gartner's Magic Quadrant for Data Quality Tools.*
Credit Suisse, Antares Capital and SunTrust Robinson Humphrey are providing fully committed debt financing for the transaction. Foros served as the financial advisor to Harte Hanks. Credit Suisse, Evercore and SunTrust Robinson Humphrey served as the financial advisors to Syncsort.
Syncsort is a provider of enterprise software and the global leader in Big Iron to Big Data solutions. As organizations worldwide invest in analytical platforms to power new insights, Syncsort's innovative and high-performance software harnesses valuable data assets while dramatically reducing the cost of mainframe and legacy systems. Thousands of customers in more than 85 countries, including 87 of the Fortune 100, have trusted Syncsort to move and transform mission-critical data and workloads for nearly 50 years. Now these enterprises look to Syncsort to unleash the power of their most valuable data for advanced analytics. Whether on-premise or in the cloud, Syncsort's solutions allow customers to chart a path from Big Iron to Big Data. Experience Syncsort at www.syncsort.com.
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.SM The firm's core target sectors are industrials and energy; communications, software, and technology-enabled services; and consumer. Clearlake currently has over $3 billion of assets under management and its senior investment principals have led or co-led 90 investments in traditional buyouts, corporate carve-outs, recapitalizations, turnarounds and restructurings, structured equity and credit, and other special situations as well as public equity and secondary debt. More information is available at www.clearlake.com.
For Clearlake Capital Group
*Gartner "Magic Quadrant for Data Quality Tools" by Saul Judah, Mei Yang Selvage, Ankush Jain. November 23, 2016.
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SOURCE Syncsort Incorporated