Neopost Takes Another Step in the Execution of its “Back to Growth” Strategy with the Divestment of Satori Software
Tuesday, Jan 29th 2019
Paris — Neopost, a global leader in mail solutions, business process automation, customer experience management and parcel locker solutions, today announced the divestment of Satori Software, one of the leaders in address quality solutions in the United States. Satori is acquired by Thompson Street Capital Partners (TSCP), the owner of BCC Software, a provider of postal management software in Americas based in Rochester, New York.
Geoffrey Godet, Chief Executive Officer of Neopost, commented: "The divestment of Satori marks another step forward in the refocusing of Neopost operations. After last week’s acquisition of Parcel Pending, this shows how committed we are to accelerate the transformation of the Group and swiftly set in motion our ambitious “Back to Growth” strategy.”
The divestment of Satori Software comes as a result of the strategic review of Neopost portfolio of business activities that has been conducted by the Group.
Neopost strongly believes that the combination of Satori & BCC Software by TSCP will deliver outstanding value to customers by bringing together the best of both solutions under one umbrella. In order to ensure continuous support & supply of Satori products to Neopost customers, a distribution agreement has been signed between Neopost and BCC Software. This will allow Neopost to continue to market Satori solutions.
The transaction was completed on 28 January 2019. The exit from Neopost consolidation scope is effective at the same date. The selling price stands above USD 70 million.
Satori Software is a provider of address quality solutions essentially dedicated to the US market. Satori has about 70 employees in Seattle, Washington. In 2017, its sales accounted for about 2% of the total Group sales or about 10% of Neopost Additional Operations.
Neopost is a global leader in mail solutions, business process management, customer experience management and parcel locker solutions. Its mission is to deliver reliable solutions that create relevant and personalised interactions. With a direct presence in 29 countries and more than 5,800 employees, Neopost reported annual sales of €1.1 billion in 2017. Its products and services are sold in more than 90 countries. Neopost is listed in compartment A of Euronext Paris and belongs to the SBF 120 index.