Group 1 Buys Sagent Technology AssetsGroup 1 Software will acquire the key assets of Sagent Technology, the two data solutions companies said yesterday.
Group 1, Lanham, MD, will pay up to $17 million in cash and forgiven debt.
According to Group 1, the deal will add enterprise information integration and customer data integration technologies to its data quality software solutions.
Group 1 CEO Bob Bowen said Sagent's sales and distribution operations in 20 countries will enhance Group 1's product distribution capabilities in growing markets such as Japan, China and South Africa.
Sagent has more than 1,500 global customers, and Group 1 has more than 2,000.