Toner News Mobile › Forums › Toner News Main Forums › PITNEY BOWES TO ACQUIRE PRINT INC
- This topic has 0 replies, 1 voice, and was last updated 9 years, 8 months ago by Anonymous.
-
AuthorPosts
-
AnonymousInactivePitney Bowes to Acquire Print, Inc.
STAMFORD,
Conn., July 06 — Pitney Bowes Inc. today announced that it has signed
a definitive agreement to acquire 100% of the stock of Print, Inc. for
approximately $47 million, net of cash and debt. Print, Inc. is a
leader in a rapidly growing component of the print management market
that provides bundled offerings of printer supplies, service and
equipment to manage document production. These operations will be
integrated into a wholly-owned subsidiary of the company, and operate
as part of its Pitney Bowes Direct group led by Neil Metviner,
Executive Vice President and President Pitney Bowes Direct. This
acquisition helps the company add value in another critical part of the
mailstream, according to Michael J. Critelli, Chairman and CEO of
Pitney Bowes. “Managing the printing of documents is a key activity
involved in the production of effective mail and documents. Yet, as
important as it is, most businesses rely on an array of separate
vendors to provide printer equipment, printer supplies such as paper,
ink and toner, and maintenance and repair services for their printer
fleet. By providing bundled offerings of supplies, services and
equipment, Print, Inc. pioneered a holistic approach to optimizing
print resources and managing total costs. It serves as the perfect
platform for leveraging our national sales and service networks,
management services solutions, and current printing supplies offerings,
while expanding the array of comprehensive printing solutions available
to all of our customers.” Print, Inc. uses the term Document Management
Infrastructure (DMI) to describe this rapidly growing, emerging
component of the mailstream that integrates supplies, service and
printers into a consolidated program. They are a leading provider in
the DMI market which is projected to grow at 30%. Print, Inc. generated
approximately $49 million in revenue in 2005 by supporting small to
mid-size customers in a variety of industry verticals, such as legal
services. They are headquartered near Bellevue, Washington and they
employ 221 people in 15 sites. Gary Stevens, CEO and founder of Print,
Inc. noted, “This acquisition represents a win for all of our
customers. We are excited to become a part of the leader of the global
mailstream and look forward to growing the array of high value print
management solutions that we provide.” Subject to the completion of
customary conditions this transaction is expected to close during the
third quarter of 2006. Pitney Bowes provides the world’s most
comprehensive suite of mailstream software, hardware, services and
solutions to help companies manage their flow of mail, documents and
packages to improve communication. Pitney Bowes, with $5.5 billion in
annual revenue, takes an all-inclusive view of its customers’
operations, helping organizations of all sizes enjoy the competitive
advantage that comes from an optimized mailstream. The company’s 86
years of technological leadership have produced many major mailstream
innovations, and it is consistently on the Intellectual Property Owners
Association’s list of top U.S. patent holders. With approximately
34,000 employees worldwide, Pitney Bowes serves more than 2 million
businesses through direct and dealer operations. -
AuthorJuly 26, 2006 at 11:17 AM
- You must be logged in to reply to this topic.