Pitney Bowes open to Indian acquisitions
Pitney Bowes Inc. is open to acquisition in India. Provided the potential company’s business is complementary to Pitney Bowes business plans.
Pitney Bowes has been on acquisition trail in the last six years acquiring close to 70 companies in the last six years. The company is branching beyond the postage meter business and has invested USD 2.5 billion in acquisitions since 2000 to make inroads into the document services market.
Among the high profile acquisition for the company has been location intelligence provider MapInfo, which the company acquired for an undisclosed amount in 2004.
Pitney Bowes made its direct presence in India in 2004, though the company had an indirect presence in country through its distributors from 1970.
More than 10,000 of its two million customers worldwide are from India and half of 2007 revenues came from the sale and operation of postage meters.
Speaking about company business in India, Eric-Yves Mahe, said Pitney Bowes is hugely excited about its prospects in India.
Eric added that company looked to leverage its existing relation ship with its 10,000 customers in India.
The company also has recently signed an MOU with India Post. Under the MOU, Pitney Bowes will set up its network infrastructure to enable Indian postal franking meter users to remotely recharge franking machines without having to physically carry them to a post office.