Pitney Bowes picks up French firm
Pitney Bowes Management Services International reports acquiring Asterion SAS for USD 33.2 million in cash.
The transaction also included France-based Asterion’s two subsidiaries, Asterion Sud and Asterion Direct. Pitney Bowes Management Services is a division of Pitney Bowes Inc.
Plans call for Asterion, which provides outsourced transactional print and document process services, to become a wholly owned subsidiary of Pitney Bowes, continuing to operate under its existing management, officials said.
Asterion, which employs 740 workers, posted revenue of USD 88 million of revenue during 2006. Asterion employees are located at the company’s headquarters in St. Denis, France, and additional nine French facilities.
Pitney Bowes, founded in 1920, employs 35,000 workers. The company reported annual revenue of USD 5.7 billion in 2006.
Last week, Pitney Bowes formed a new software company by combining two of its acquisitions, Pitney Bowes Group 1 Software and Pitney Bowes MapInfo.
Pitney Bowes acquired Maryland-based Group 1 Software Inc. in 2004 for about USD 321 million. In March, it acquired Troy, N.Y.-based MapInfo Corp. for USD 408 million.
