Pitney Bowes Completes Acquisition of Bell & Howell's International Mail and Messaging Technologies

Tuesday June 5, 6:55 am Eastern Time

Press Release

SOURCE: Pitney Bowes Inc.

Pitney Bowes Completes Acquisition of Bell & Howell’s International Mail and
Messaging Technologies

Acquisition Paves the Way for Accelerated Global Growth

STAMFORD, Conn., June 5 /PRNewswire/ — Pitney Bowes Inc. (NYSE: PBI
– news
) has completed the acquisition of Bell
& Howell’s International Mail and Messaging Technologies (MMT) business in
Europe, Africa, Middle East and Asia, for million in cash. As announced
on April 18, 2001, the company agreed to acquire Bell & Howell’s
International MMT business following governmental approval and works council
consultations.
“This acquisition enables us to better serve the unique needs of our
customers worldwide,” said Michael J. Critelli, chairman and CEO of Pitney
Bowes. “It also extends our presence, reach and market share in non-U.S.
markets. We’ve significantly strengthened our position in areas of great
opportunity such as the German, French and Japanese markets, and enhanced
our overall breadth of coverage — including direct sales and service — in
key growth areas like Belgium and the Netherlands.”
Bell & Howell’s International MMT distribution network includes operations
in the U.K., Germany, Japan, France, Austria, Belgium, the Netherlands,
Singapore and Switzerland as well as independent dealers in other markets.
More than 300 sales and service personnel provide highly skilled customer
support and deliver superior service response time for the company’s 3,000
plus high-end ‘document factory’ mailers and mail house customers. The
company’s Freidberg, Germany-based manufacturing and engineering
organization enhances the customer value-proposition as well.
“By adding Bell & Howell’s International MMT development and manufacturing
functions and broad international sales and service coverage to our existing
Pitney Bowes Document Messaging Technologies (DMT) capabilities and existing
Pitney Bowes Global Mailing Systems infrastructure, we’ve created a highly
competitive global organization to deliver world-class solutions and
service,” said Critelli.
“Since the signing of the initial agreement in April, we’ve had an
opportunity to work closely with Bell & Howell International MMT employees
and are very impressed by the level of creativity, professionalism,
enthusiasm and dedication they bring to the business. Their approach to the
market and commitment to customers mirrors our own at Pitney Bowes,” said
Critelli. “The merging of our businesses should greatly benefit customers
through expanded solutions and world-class service. We welcome our new
colleagues and look forward to accelerating the value we deliver to
customers and ultimately Pitney Bowes shareholders.”
Pitney Bowes is a billion global provider of integrated mail and document
management solutions headquartered in Stamford, Connecticut. The company
serves over 2 million businesses of all sizes through dealer and direct
operations. For additional information about Pitney Bowes, please visit our
website at http://www.pitneybowes.com.
SOURCE: Pitney Bowes Inc.