Pitney Bowes buys Newgistics
Pitney Bowes has signed a definitive agreement to buy Newgistics, the Austin, Texas-based provider of parcel delivery, returns, fulfilment and e-commerce solutions. In a statement issued yesterday (6 September), Pitney Bowes said that the Newgistics acquisition will “accelerate its expansion into the US domestic parcels market at scale”.
Pitney Bowes will purchase all shares of the company for around $475m.
“Newgistics fits uniquely at the intersection of our parcel growth strategies and will accelerate the overall transformation of Pitney Bowes,” said Marc B. Lautenbach, President and Chief Executive Officer, Pitney Bowes. “This acquisition – combined with recent innovations in mailing and shipping for SMB clients, organic growth of our Global Ecommerce business, and expansion of our presort and parcel services network – definitively anchors Pitney Bowes in a growing space and vastly increases the value we can deliver for our clients.”
Newgistics is a workshare partner of the United States Postal Service (USPS) and processes nearly 100m parcels annually, including more than 50% of all Parcel Returns Select packages shipped through the USPS.
