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? Register for a free user account. This document was generated for Other research you may be interested in: May 2023 Monthly Consumer Update: US, UK and ChinaWeb3 and the Supply Chain: Blockchain, Digital Twins and More—Insights Presented at Shoptalk Europe 2023Day One at NRF 2024: Retail’s Big Show—Building Community and Leveraging Technology Drives Retail SuccessDiving into the Diverse Underserved US Beauty Market: Insights Presented at the Inside Beauty Forum