Pitney Bowes doubles run rate since PSI acquisition
Since Pitney Bowes’s acquisition of PSI Group for $130 million last June, the presort company has doubled its run rate and is generating about $100 million in annual revenues, a recent analyst’s report on Pitney Bowes says. Goldman Sachs says Pitney Bowes reported at its annual analyst meeting that PSI is now sorting about 20 million pieces of mail/day, up from the 13 million pieces/day when acquired. Pitney Bowes group president Murray Martin told analysts that management was looking to double again the business volume going forward.
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