Pitney Bowes to Acquire Compulit
Monday, March 07, 2005
STAMFORD, Conn., March 4 -- Pitney Bowes Management Services (PBMS), a subsidiary of Pitney Bowes Inc., today announced that it has signed a definitive agreement to acquire Compulit, Inc., a leading provider of litigation support services to law firms and corporate clients. This business will be part of the newly created Pitney Bowes Legal Solutions operation, which is led by Arlen Henock. "Today's transaction is consistent with our growth strategy for management services and our company as a whole," said Michael J. Critelli, Chairman and CEO of Pitney Bowes. "One of our key strategies to deliver enhanced shareholder value has been to execute a series of strategic acquisitions that either strengthen our capabilities to add value in existing markets or provide a platform for accelerating our expansion into adjacent market places. We believe that litigation support services provide us with an excellent opportunity in this growing multi-billion dollar market. The acquisition of Compulit will expand our ability to provide a broader range of high value litigation support products and services to new and existing customers. It will also give Compulit customers convenient access to our full range of mail and document management services." E. Jane Warnshuis, Founder and President of Compulit noted, "I am excited for our clients. Our clients now have the advantages of Compulit's unique skills and expertise combined with Pitney Bowes's worldwide resources. Our clients are the real winners."