Pitney Bowes buys Lanham’s Group 1
Pitney Bowes Inc. has acquired Lanham-based Group 1 Software Inc. for about USD321 million.
Group 1, which designs postal and direct mail software, will become a wholly owned subsidiary of Pitney Bowes’ Global Enterprise Solutions division pending approval by stockholders.
The purchase is expected to close in the third quarter.
“Group 1 has a broad range of address management, data quality, document generation and delivery and marketing campaign management software applications that complement our existing mailing software business and products,” said Michael J. Critelli, Pitney Bowes chairman and CEO. “These capabilities have become even more important in light of the U.S. Postal Service’s recent focus on intelligent mail and address quality. It will also expand our mail stream participation by adding 3,000 high- and mid-volume mailing customers worldwide.”
Stamford, Conn.-based Pitney Bowes is a $4.6 billion provider of integrated mail and document management solutions.
Added Group 1 Software CEO Bob Bowen: “We touch growing markets with $8 billion in current revenue and we view this transaction as a very positive step toward growing our participation in these markets.”
