Syniti continues to deliver the highest revenue quarter in company history

Company Announces Record Service Revenue and Solid Year-over-Year Growth in Cloud ARR

Continued expansion with key Global 2000 customers, strengthened partnerships with HCL and IBM, and key executive hires fuel momentum

BOSTON, July 27, 2022 /PRNewswire/ — Syniti, a global leader in enterprise data management, today announced key financial and business highlights for the second quarter of 2022. The company reports that its revenue second quarter is the largest in its history, and its first quarter for recorded services revenue. Revenue growth was driven by new customers in manufacturing, consumer products, and aerospace and defense. The company also saw an increase in deeper engagements with existing customers, with more than 80% of Q2 deals coming from new work with current customers. Twenty-four new logos were added during the quarter with significant net new business driven by the company’s direct solutions for data matching and replication, Syniti Match (formerly 360Science) and Syniti Replicate.

Financial and product highlights:

  • 63% year-over-year growth in cloud annual recurring revenue (ARR), building on Q1 and 2021 momentum as customers continue to adopt cloud technologies.

  • Global alliance partner activity drove nearly a quarter of software and services bookings with key wins from strategic partners IBM, Deloitte, HCL, SAP and Accenture.

  • HCL Technologies has adopted the Syniti Knowledge Platform as its strategic data platform, in addition to announcing a new partnership to develop industry-specific data solutions and deliver higher quality SAP S/4HANA® metamorphoses.

  • A new offering with IBM – IBM Data Readiness with Syniti Knowledge Platform – to help accelerate digital transformation for joint customers preparing to move to SAP S/4HANA

  • The launch of the company’s enhanced data migration offering, Syniti Migrate, was aimed at helping enterprise customers realize the value of critical migration and consolidation projects faster.

Company Highlights:

  • Key executives are hiring globally, including the addition of a data industry veteran Chris Gorton as Senior Vice President of EMEA North, South and Emerging Markets, former SAP executive Lazaros Lazaridis as Vice President EMEA, southern Europe, Middle East & Africa and Marcus Scottformerly of PwC and SNP Group, as Vice President of Sales for Australia and New Zealand.

  • A 6x increase in course enrollment for Syniti Education Services’ personalized learning offerings compared to the same period last year, and a 42% increase in training compared to the first quarter of this year.

  • A new supplier code of conduct and diversity program as part of its global SynitiRITE compliance initiative to ensure a shared commitment to ethical business practices and human rights, diversity and inclusion.

  • Listed for the ninth consecutive year in the DBTA 100: The Companies That Matter Most in Data for 2022.

Kevin CampbellCEO, Syniti, said: “Even with market uncertainty, the Syniti team has delivered strong results for the business, our customers and our partners. We are generating a lot of recurring business, as well as a slight increase in what I call “bailout” – old and new customers coming to Syniti when their current suppliers cannot handle the project, particularly during migrations of complex data. . It’s a true testament to the incredible talent and practicality we have, as well as the sophistication, ease of use and commercial nature of our platform.”

green billChairman of Syniti’s Board of Directors, said: “The work done by the Syniti team is absolutely crucial to the success of its clients and, frankly, to any business that needs a competitive edge. The Board of Directors is thrilled to see leading organizations in all sectors adopt Syniti’s value proposition to realize the benefits of their own business transformation efforts: whether it is critical ADM or supply chain digitalization initiatives and finance. “

About Syniti

Syniti solves the world’s most complex data challenges by uniquely combining intelligent AI-powered software and deep data expertise to achieve certain and superior business results. For over 25 years, Syniti has partnered with Fortune 2000 to unlock valuable insights that drive growth, reduce risk and increase 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. data in a single, unified solution. Syniti is a portfolio company of private equity firm Bridge Growth Partners LLC. Learn more at www.Syniti.com.

© 2022 Syniti. All rights reserved. Syniti, Syniti product names, logos and other Syniti marks are trademarks and/or registered trademarks of BackOffice Associates, LLC d/b/a Syniti (“Syniti”) in United States and/or other countries. Other company names, product names and logos may be trademarks of the respective companies with which they are associated.

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