Log In | Become a Member | Contact Us


Leading printing executives into the future

Connect on Twitter | Facebook | LinkedIn

Featured:     European Coverage     Production Inkjet Analysis

Pitney Bowes Completes Sale of Marketing Services Business

Monday, June 01, 2015

Press release from the issuing company

STAMFORD, Conn. - Pitney Bowes Inc., a global technology company that provides products and solutions that power commerce, today announced the successful completion of the sale of its Imagitas marketing services business to Red Ventures for $310 million in cash, subject to adjustment. The company expects proceeds from the sale of approximately $280 million, net of estimated closing costs, transaction fees and taxes.

This transaction is the latest in a series of actions that the company has taken to unlock greater value for shareholders, while increasing its focus on clients in the markets where it can lead.

The Imagitas business generated $128 million in revenue in 2014. The company will provide more detail about the expected impact of this transaction during its scheduled discussion of second quarter results at 8 am EST on July 30th.

 

Post a Comment

To post a comment Log In or Become a Member, doing so is simple and free

 

SHARE

Email Icon Email

Print Icon Print

Become a Member

Join the thousands of printing executives who are already part of the WhatTheyThink Community.

Copyright © 2016 WhatTheyThink. All Rights Reserved