Red Ventures to buy Imagitas from Pitney Bowes

Red Ventures has signed a definitive agreement to acquire Pitney Bowes’ marketing services organization, Imagitas, for $310 million in cash, subject to certain adjustments. The transaction is expected to close in the second quarter.

Through a strategic partnership, Imagitas helps the United States Postal Service (USPS) produce, distribute and facilitate the official change of address.

Marc Lautenbach, Chief Executive Officer, Pitney Bowes, commented: “Our decision to sell Imagitas to Red Ventures is part of an ongoing effort to transform Pitney Bowes and realign our portfolio of products and solutions by focusing on the core areas where we can lead and create the greatest value for our clients and shareholders.”