Intellisync Corporation, a leading provider of synchronization and mobilization software formerly known as Pumatech, announced it has entered into a definitive agreement, subject to customary closing conditions, to acquire Search Software America (SSA), a privately held division of SPL WorldGroup, for $20 million in cash. SSA, whose products enhance the ability to search, find, match and group (synchronize) identity data within computer systems and network databases, will operate as a wholly owned subsidiary of Intellisync Corporation. The acquisition is expected to be accretive to earnings and is projected to close within 30 days. According to SPL WorldGroup, the seller, SSA generated annual revenues of approximately $10 million in calendar 2003 and operating income of approximately $3.5 million.
"One of the key functions of any sync product is the ability to synchronize records without creating duplicates," explained Woodson (Woody) Hobbs, president and CEO of Intellisync Corporation. "We have always been a leader in this 'conflict resolution' arena with our award-winning products and patents. SSA is a world leader in technologies that match, group and manage differently spelled names and addresses. With the addition of these important technologies, we believe that we will be able to significantly increase our customers' ability to find matches and manage or eliminate duplicates during synchronization and data management." Intellisync Corporation intends to incorporate SSA's technology throughout its family of synchronization solutions for the enterprise, OEM and consumer segments of its business.
SSA has more than 17 years of experience specializing in software that adds complex intelligence and quality to critical name search and matching. This empowers high-value Identification applications for Criminal Intelligence, Fraud Investigation, Tax Collection, Marketing and Synchronization systems. SSA's software operates on servers, mainframes and workstations, and has been adopted by customers such as AT&T, GE Capital, Reader's Digest, VISA, Barclays, Bank of New York, Bank of Montreal, Zurich Financial Services, Accenture, Deloitte Consulting, Insurance Council of New Zealand and Equifax Brazil.
"There is tremendous affinity between SSA's software and synchronization solutions from Intellisync," said Geoff Holloway, president of Search Software America. "By combining our highly complementary solutions, we believe this agreement will greatly benefit enterprise and technology licensing customers of both Intellisync Corporation and SSA.”
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