Group 1 Buys Sagent
Group 1 will add Sagent's enterprise information integration and customer data integration technologies to its core data quality and data enrichment solutions.Group 1 Software announced Wednesday that it has entered into an agreement to buy the assets of Sagent Technology Inc., in a deal valued at up to $17 million in cash and debt forgiveness. Sagent was declared in default on a $7 million loan package last month and announced that it would explore a number of alternatives, including selling the company. Group One, which will provide Sagent with up to $7 million in bridge financing as part of the deal, expects to add Sagents enterprise information integration and customer data integration technologies to its core data quality and data enrichment solutions.
Group 1 plans to market Sagents extract, transformation and load (ETL) technology as a stand-alone offering, integrated with its data quality solutions. In addition, Group 1s geospatial analysis capabilities will be enhanced with the technology of Sagents Centrus division, Group 1 officials in Lanham, Md., said.