Woodcliff Lake-based data analysis company Syncsort announced today its data protection business has been acquired by members of its executive management team. Robert Belau and Ken Barth of Bedford Venture Partners, and long-time Syncsort investor Windcrest Partners made the purchase.
Financial terms were not disclosed.
According to the announcement, this completes a planned separation announced earlier this year to enable greater focus and concentrated investment in each line of business. The investor group has formed a new data protection company as part of the acquisition, and deployed additional capital to accelerate the development and growth of the business. After an initial transition period during which time the new company will continue to use the Syncsort trademark, it will unveil a new company name and branding.