NEW YORK--(BUSINESS WIRE)--Bridge Growth Partners, LLC, a leading technology investment firm, today announced it has signed a definitive agreement to sell Syniti (formerly known as BackOffice Associates), a global leader in enterprise data management, to Capgemini. The sale of Syniti to Capgemini represents Bridge Growth's fourth full exit over the past three years in a strategic transaction.
Syniti, a leading provider of data quality, data migration and data governance services and software solutions, was acquired by Bridge Growth in late 2017. The company excels at solving complex data challenges for the world's largest organizations undergoing critical business transformations, ensuring successful outcomes and significant business benefits. Over the course of its partnership with Bridge Growth, Syniti evolved its business through executing a number of key initiatives, including:
- Recruiting a new, highly experienced management team including Kevin Campbell as CEO, formerly from Accenture, and Melanie Payne as CFO, previously from EMC and Accenture, under the mentorship of Bill Green as Board Chairman, formerly Chairman & CEO of Accenture and a member of Bridge Growth's Global Advisory Council;
- Installing an industry-leading Board of Directors including Joe Tucci, formerly Chairman & CEO of EMC and Chairman of Bridge Growth Partners, as well as Bill Teuber, formerly Vice Chairman of EMC, and Steve Mills, formerly EVP of IBM, both members of the Bridge Growth leadership team;
- Advancing the company's longstanding partnership with SAP, including evolving Syniti's role as a key SAP Solution Extension partner with its new cloud-based software platform which is resold by SAP as SAP Advanced Data Migration & Management; the company's flagship software, Syniti Knowledge Platform (SKP) and its Rapid Data Governance software are also SAP Endorsed Apps;
- Supporting Syniti's reimagining of its messaging and go-to-market approach to include #datafirst and linking data to business benefits;
- Accelerating growth through backing the successful acquisition and integration of Data Migration Resources, as well as making several other tuck-in technology acquisitions; and
- Expanding Syniti's data software offerings and supporting the integration of the company's cloud-native platform.
"As a highly focused investment firm building differentiated and strategically relevant technology companies, we are incredibly proud of the growth and development Syniti achieved," said Alok Singh, CEO of Bridge Growth Partners. "With the active support of our full team, including our highly experienced advisors, Syniti's leadership team and employees transformed the company into a true market leader in data management that we believe will be an excellent strategic fit with Capgemini."
Mr. Campbell, CEO of Syniti, added, "Joining Capgemini represents the next chapter in the Syniti story. It will allow us to expand on the momentum we've built as the data transformation experts. We are grateful for the coaching and encouragement of our Board of Directors who helped us get to this milestone. The Syniti team will continue to tackle the hardest work in data and deliver successful business outcomes for the world's largest enterprises; we are excited that we will now provide these critical services as part of Capgemini. I am incredibly proud of the team and the outstanding work they do around the globe for our clients every day."
"It has been a pleasure to collaborate with Kevin and the full Syniti management team and Board to develop Syniti into the differentiated, highly mission-critical business partner for leading global enterprises that it is today. We are thrilled for Syniti's next chapter as part of Capgemini and want to thank all of the company's employees for their hard work and dedication," said Mr. Green, Chairman of the Board of Syniti and a member of Bridge Growth's Global Advisory Council.
The transaction is expected to close in the coming months, subject to regulatory approvals and other customary closing conditions.
Syniti is being represented by Evercore and Santander as financial advisors and Willkie Farr & Gallagher LLP as legal counsel.
About Bridge Growth Partners
Bridge Growth Partners, LLC is a private equity firm that targets investments in the technology and technology-enabled services sectors. Bridge Growth Partners brings together in one team premier investment, financial, strategic and operating business building talent. The firm is committed to relationship-based investing, with a focus on supporting growth, operational excellence and world-class governance at its portfolio companies to create value for investors. For more information about Bridge Growth Partners, please visit .
About Syniti
Syniti solves the world's most complex data challenges by uniquely combining intelligent software and vast data expertise to yield certain and superior business outcomes. For over 15 years, Syniti has partnered with the Fortune 2000 to unlock valuable insights that ignite growth, reduce risk and increase their competitive advantage. Syniti's silo-free enterprise data management platform supports data migration, data quality, data replication, master data management, analytics, data governance and data strategy in a single, unified solution. Syniti is a portfolio company of private equity firm Bridge Growth Partners LLC. Read more at .
Contacts
For Bridge Growth Partners:
FGS Global
Kevin Siegel
BridgeGrowth@fgsglobal.com