Harte Hanks (NYSE: HHS), a leader in customer relationships, experiences and interaction-led marketing, today announced the closing of the sale of Trillium Software to Syncsort for $112 million in cash. The Company used the net proceeds of the sale to retire its outstanding credit facility.
Commenting on the transition, Chief Executive Officer Karen Puckett said, “We are pleased to have completed the sale of Trillium Software, which allows us to focus the business on serving chief marketing officers with a unique combination of strategy, creative, analytics and marketing execution. We continue to make progress on our revenue stability efforts around client expansion and new client additions, and in the fourth quarter, we expect to reduce our rate of revenue decline and see improving profitability. We are encouraged that the strategic changes we are making to the business are taking hold.”
Harte Hanks expects to host a conference call in January to provide a review of its business, product offerings, and go to market strategy. Additional details will be provided at a later date.
Source: Harte Hanks Press Release