Harte Hanks (NYSE: HHS), a leader in customer relationships, experiences and interaction-led marketing, today announced a definitive agreement whereby Syncsort, a global leader in Big Iron to Big Data solutions, will acquire Harte Hanks' Trillium Software business for $112 million in cash. The sale of Trillium Software is subject to regulatory approvals and other customary closing conditions.
"Our announcement today 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," stated Karen Puckett, Chief Executive Officer. "Now Harte Hanks can wholly focus resources on our core strengths and capitalize on our unique combination of marketing strategy, analytics, and execution capabilities. 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."
Harte Hanks will use substantially all of the net proceeds from the sale to retire its outstanding credit facility. Foros acted as financial advisor and Morgan, Lewis & Bockius LLP acted as legal advisor to Harte Hanks.
About Harte Hanks:
Harte Hanks is a global marketing services firm specializing in multi-channel marketing solutions that connect our clients with their customers in powerful ways. Experts in defining, executing and optimizing the customer journey, Harte Hanks offers end-to-end marketing services including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. From visionary thinking to tactical execution, Harte Hanks delivers smarter customer interactions for some of the world's leading brands. Harte Hanks 5,000+ employees are located in North America, Asia-Pacific and Europe. For more information, visit Harte Hanks at www.hartehanks.com, call 800-456-9748, email us at pr@hartehanks.com. Follow us on Twitter @hartehanks or Facebook at https://www.facebook.com/ HarteHanks.
