Pitney Bowes to acquire Firstlogic.
Pitney Bowes Inc. has signed a definitive agreement to acquire all
of the remaining outstanding shares of Firstlogic for about $50.3
million, excluding cash and debt on the balance sheet. Pitney Bowes
currently has 10 percent equity ownership of the privately held company.
Firstlogic develops and markets software and services designed to
improve operations in data quality, mailing efficiency and postal
automation.
Upon completion of this transaction, Firstlogic will become a
wholly owned subsidiary of Pitney Bowes within Document Messaging
Technologies. Subject to regulatory approval and completion of other
customary conditions, the transaction is expected to close during the
third quarter.
[ILLUSTRATION OMITTED]
www.pb.com
www.firstlogic.com
By Glenn J. Kalinoski, Executive Editor, Customer Inter@ction
Solutions
COPYRIGHT 2005 Technology Marketing Corporation
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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