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Pitney Bowes's Sale of its Software Solutions Business to Syncsort

On August 26, 2019, Pitney Bowes Inc., a global technology company that provides commerce solutions in the areas of e‑commerce, shipping, mailing, data, and financial services, announced that it has entered into a definitive agreement to sell its Software Solutions business to Syncsort for $700 million in cash. Cravath is representing Pitney Bowes in connection with the transaction.

The Cravath team is led by partners Ting S. Chen and David J. Perkins 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.