Company to Expand Customer Communications Offerings
STAMFORD, Conn.–(Business Wire)–
Pitney Bowes MapInfo UK Limited, a wholly-owned subsidiary of Pitney Bowes Inc.
(NYSE: PBI), today announced it has received acceptances for over 90 percent of
the existing issued ordinary shares of Portrait Software plc and the acquisition
is now wholly unconditional. Portrait is an English company that provides
software to enhance existing customer relationship management systems, enabling
clients to achieve improved customer retention and profitability.
Pitney Bowes now effectively controls Portrait Software plc and will begin
business integration activities immediately. For shareholders who have not yet
tendered their shares, Pitney Bowes is keeping the original offer open
indefinitely while commencing the process for compulsory acquisition of the
outstanding shares.
Pitney Bowes Chairman, President and CEO Murray Martin noted the strategic
nature of the acquisition: “Pitney Bowes is expanding its range of software
solutions that help our customers grow their own businesses. The capabilities we
found at Portrait Software are an excellent complement to our existing offerings
and will find their way into the suite of tools we provide to organizations of
all sizes. We know that our customers are looking to communicate with their
customers and prospects in ways that generate real results; increasingly, Pitney
Bowes can help them do that.”
Portrait Software offers software applications that help companies increase
their level of engagement with their customers. These applications enable
companies to design and execute more effective customer service and marketing
campaigns based on superior insight into customer behavior. By applying these
software tools, companies can see greater return on investment for their
marketing dollars.
Pitney Bowes encourages all remaining Portrait Software shareholders to tender
their shares without further delay. The offer is for £0.31 in cash for each
outstanding share of Portrait Software.
Portrait Software is headquartered in Henley-on-Thames, Oxfordshire, United
Kingdom.
About Pitney Bowes:
Celebrating its 90th year of innovation, Pitney Bowes provides software,
hardware and services that integrate physical and digital communications
channels. Long known for making its customers more productive, Pitney Bowes is
increasingly helping other companies grow their business. Pitney Bowes is a $5.6
billion company and employs 33,000 worldwide. Pitney Bowes: Every connection is
a new opportunity. www.pb.com
Pitney Bowes Inc.
Press:
Matt Broder, 203-351-6347
matthew.broder@pb.com
or
Investors:
Charles McBride, 203-351-6349
charles.mcbride@pb.com
Copyright Business Wire 2010