Bowne Acquires Digital Print Business From Alliance Data
Press release from the issuing company
NEW YORK, NY, Nov 07, 2007 -- Bowne & Co., Inc., a leader in shareholder and marketing communications services, today announced it has acquired ADS MB Corporation (Alliance Data Mail Services), an affiliate of Alliance Data Systems Corporation. Terms of the purchase price were not disclosed. Bowne expects the transaction will be accretive to its 2008 results.
"This acquisition is a natural fit for Bowne," said David J. Shea, Chairman, President and Chief Executive Officer of Bowne. "As we've said for some time, we'll pursue strategic, bolt-on acquisitions to accelerate our growth in marketing and business communications, and support our strategy to grow non-transactional revenue."
With annual revenue expected to be $36 million, Alliance Data Mail Services provides personalized customer communications and intelligent inserting and commingling capabilities to its clients in the financial services, healthcare, retail, government and utilities industries. It also provides clients with advanced technology tools that enable the monitoring of a project's status and reporting in real-time.
"We are pleased that Mail Services will now be a part of a business where its key competencies and services more closely align with its parent company," said Alliance Data Chairman and Chief Executive Officer Mike Parks. "As Alliance Data continues to strengthen its position as the premier provider of high value-added transactional-based marketing and loyalty programs, our Mail Services business was no longer viewed as core to that strategy. Additionally, this transaction will free up capital and cash flow, which adds to our confidence, both in achieving our growth plan and in maintaining strong cash flow metrics to support our new capital structure as we continue our process of becoming a private company once again."
With facilities in Dallas, Texas, Alliance Data Mail Services will be integrated into Bowne's existing distributive print network, which includes digital and offset printing, binding, mail services and fulfillment capabilities.
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