Flash Report 3 minutesRegister for Free AccessPitney Bowes to Sell Software Solutions Business to Syncsort for $700 Million in Cash, Reduces Guidance from Divestiture and Tariffs Coresight Research August 28, 2019 Executive SummaryOn August 26, 2019, Pitney Bowes announced a definitive agreement to sell its Software Solutions business to Syncsort for $700 million in cash. Syncsort, located in Pearl River, NY, is a global software company specializing in big data, high-speed sorting products, and data integration software and services, including Hadoop, for platforms including Windows, UNIX, Linux, and mainframes. The divestiture will enable the company to part with a non-core, lower-margin business and enable management to focus on its core shipping, mailing and related financial services businesses. Pitney Bowes expects the divestiture to be earnings neutral in the 12 months following the closing of the transaction. Due to the divestiture and the impact of a higher level of tariffs, the company now expects 2019 revenue growth of 1-2% (down from 1-3%) and adjusted EPS of $0.65-0.75 (down from $0.90-1.05) The transaction is expected to close by the end of the calendar year. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: Seasonal Shopping, 1Q25—Expectations for Valentine’s Day and Presidents’ Day: US Consumer Survey Insights ExtraUS CPG Sales Tracker: Homecare and Health Dominate at the Start of 2025US Store Tracker Extra, January 2025: 50+ Million Square Feet of Retail Space Slated To Close This YearWeekly US Store Openings and Closures Tracker 2025, Week 12: Forever 21 To Close All Stores; Dollar General Announces Major Store Expansion Plan