NEW YORK, Following yesterday's Board of Director's meeting, Bowne & Co. Inc. (NYSE: BNE) announced today that it will combine the operations of its Internet consulting and development business, Immersant, and the Content Business Unit (CBU) of its globalization company, Bowne Global Solutions. The combination is designed to reduce costs and strengthen the company's position as a leading provider of global Internet solutions. By integrating Immersant's Internet development resources with CBU's local cultural expertise, language capabilities and content creation and management skills, the combined company will provide a truly global, personalized solution. Immersant gains more than 190 employees with the integration of the CBU and now boasts more than 400 employees servicing 35 diverse cultural markets from more than 20 offices in 17 countries around the world. As the result of this combination, Bowne intends to close two of Immersant's offices and reduce Immersant's domestic workforce by approximately 70 employees. The company expects annual cost savings of approximately $7 to $9 million. The company also estimates that these restructuring and related integration expenses will result in a fourth quarter pre-tax charge to earnings in the range of $4 to $6 million. Robert M. Johnson, chairman and CEO of Bowne & Co. said, "The synergy between these two units is a natural. Immersant and the CBU have been working together successfully, adding new customers looking for global web consulting and development services. The feedback received from our clients where both these units are participating in partnership has been extremely positive. By combining these two companies, we will be able to take advantage of the significant market opportunities we see, more efficiently and effectively." Johnson continued, "Content fuels the Web -- and the demand for localized content on the Web makes the adoption of a global e-businesses strategy for our customers absolutely vital. By taking this step, Immersant now has the expertise to take our clients beyond the mere translation of their global Web sites. We can create, personalize and manage web site and wireless content in diverse markets, thus enabling e-businesses to truly interact with and relate to customers from any culture." Bowne Global Solution's localization business unit, which provides traditional product localization services to software and hardware industries, will continue to operate as a stand-alone unit.