Syncsort’s $700 Million Acquisition Of Pitney Bowes’ Software Solutions Business

Simpson Thacher represented Syncsort in its acquisition of Pitney Bowes’ Software Solutions business for $700 million in cash, subject to certain adjustments. Cravath represented Pitney Bowes in connection with the transaction.

The transaction was backed by affiliates of Centerbridge Partners, L.P. and Clearlake Capital Group, L.P.

Syncsort is the global leader in Big Iron to Big Data software. Syncsort’s products provide a simple way to optimize, assure, integrate and advance data. Syncsort supports more than 7,000 customers, including 84 of the Fortune 100, such that they can quickly extract value from their critical data anytime, anywhere. Together, Syncsort and the Pitney Bowes software & data business will become one of the largest data management software companies in the world and a leader in data quality, serving more than 11,000 customers and hundreds of resellers globally.

Goldman Sachs & Co LLC acted as financial advisor and Cravath, Swaine & Moore acted as legal advisor to Pitney Bowes.

The Simpson Thacher team included Atif Azher, Naveed Anwar, Mark Underwood, Usman Arain and Brittani Frink (Corporate); Larry Moss, Alisa Tschorke and Caitlin Grimes (ECEB); Lori Lesser, Marcela Robledo and Elizabeth Gladstone (Intellectual Property); Katharine Moir, Gary Mandel, Sophie Staples and Edward Grais (Tax); Brian Steinhardt and Edward Bersuder (Credit); Krista McManus and Dennis Loiacono (Real Estate); Timothy Mulvihill (Environmental); Steven DeLott (Insurance); and Peter Guryan, Kelly Karapetyan and Richard Jamgochian (Antitrust).

The Cravath team is led by partners David J. Perkins and Ting S. Chen and includes associates Joshua Ayal, Jin-Kyu Baek, DongHwa Kim, P. Purun Cheong and Elena R. Falloon on M&A matters; partner David J. Kappos and associates Miling Y. Harrington, Kathryn-Ann Stamm and Somi A. Umolu on intellectual property matters; partner Lauren Angelilli and associates Andrew T. Davis and Cecily Xi on tax matters; partner Eric W. Hilfers and associate Aaron J. Feuer on executive compensation and benefits matters; partner Margaret Segall D’Amico and senior attorney Jesse M. Weiss on antitrust matters; partner Matthew Morreale on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. Falguni Joshi also worked on executive compensation and benefits matters.

Involved fees earner: Lauren Angelilli – Cravath Swaine & Moore; Joshua Ayal – Cravath Swaine & Moore; Jin?Kyu Baek – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore; Ting Chen – Cravath Swaine & Moore; Purun Cheong – Cravath Swaine & Moore; Andrew Davis – Cravath Swaine & Moore; Margaret Segall D’Amico – Cravath Swaine & Moore; Elena Falloon – Cravath Swaine & Moore; Aaron Feuer – Cravath Swaine & Moore; Miling Harrington – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Falguni Joshi – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; DongHwa Kim – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; David Perkins – Cravath Swaine & Moore; Kathryn?Ann Stamm – Cravath Swaine & Moore; Somi Umolu – Cravath Swaine & Moore; Jesse Weiss – Cravath Swaine & Moore; Cecily Xi – Cravath Swaine & Moore; Naveed Anwar – Simpson Thacher & Bartlett; Usman Arain – Simpson Thacher & Bartlett; Atif Azher – Simpson Thacher & Bartlett; Edward Bersuder – Simpson Thacher & Bartlett; Steven DeLott – Simpson Thacher & Bartlett; Brittani Frink – Simpson Thacher & Bartlett; Elizabeth Gladstone – Simpson Thacher & Bartlett; Edward Grais – Simpson Thacher & Bartlett; Caitlin Grimes – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Richard Jamgochian – Simpson Thacher & Bartlett; Kelly Karapetyan – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Gary Mandel – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Katharine Moir – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Brian Steinhardt – Simpson Thacher & Bartlett; Alisa Tschorke – Simpson Thacher & Bartlett; Mark Underwood – Simpson Thacher & Bartlett;

Law Firms: Cravath Swaine & Moore; Simpson Thacher & Bartlett;

Clients: Pitney Bowes Inc.; Syncsort Incorporated;

Author: Ambrogio Visconti