Harte Hanks Announces Sale Of Trillium Software Business To Syncsort

(RTTNews) - Harte Hanks (HHS) announced an agreement whereby Syncsort will acquire the company's Trillium Software business, a global provider of data quality solutions, for $112 million in cash. Syncsort is a global leader in Big Iron to Big Data solutions backed by Clearlake Capital Group, L.P. Harte Hanks will use substantially all of the net proceeds to retire its outstanding credit facility.

The companies noted that 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.

Karen Puckett, CEO, said: "The sale is the result of a comprehensive process to maximize the value of the Trillium Software business in the growing Data Quality and Data Governance segment. The sale of Trillium Software, along with the cost reduction program we implemented in 2016, provides Harte Hanks with a stronger balance sheet as we move the Company on its path toward revenue stability and historically strong cash flows and improved profitability."