Tag: Pitney Bowes

Pitney Bowes Expands Presence in Singapore and Malaysia

Posted by | Dec 12, 2007 | |

Pitney Bowes Inc. announced today that it has entered into an agreement to acquire the Pitney Bowes business division, including inventory, and stocks, equipment, customers, employees and other assets of CL Computers Pte Limited and CL Computers (M) Sdn Bhd., the company that has served as its distributor for the mailstream markets in Singapore and Malaysia.
CL Computers, now a major supplier of electronic banking equipment, was founded in 1985 and initially served as a distributor for computer products. Pitney Bowes appointed the company as its distributor in Malaysia and Singapore in 1998, and CL Computers now serves thousands of mailstream customers in the banking, insurance and logistics industries from offices in Singapore, Kuala Lumpur and other locations.
The acquisition follows the recent official opening in Singapore of Pitney Bowes’s regional headquarters for Asia-Pacific and Middle East (APME) operations, under the leadership of APME President Eric-Yves Mahe. Mahe has publicly stated the company’s desire to expand dramatically across the region, potentially doubling sales within the next five years.
“Mailstream technology has long delivered substantial value to large customers in North America and Europe,” said Mahe. “With our strong base in developed markets such as Australia, New Zealand and Japan, we feel we are well positioned to deliver these same benefits to forward-thinking customers in emerging markets as well. The recent liberalization of the Singapore postal sector and the impending liberalization contemplated for the region also present strong opportunities for Pitney Bowes.”
Financial terms of the transaction were not disclosed.

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Pitney Bowes MapInfo Location Intelligence Guides La Curacao's Southwest Expansion Efforts

Posted by | Dec 10, 2007 | |

Pitney Bowes MapInfo announced that La Curacao, a Los Angeles-based department store chain targeting first and second generation Latinos, relies on Pitney Bowes MapInfo location intelligence solutions to gain a richer understanding of its target customers and conduct sophisticated sales forecasting to zero in on profitable sites for new stores.

With nine “big box” stores in Southern California and one newly opened store in Phoenix, Arizona, La Curacao is continuing to expand its presence in the Southwest with new stores in Las Vegas, Nevada.

La Curacao offers a comprehensive selection of household appliances, computers and electronics that appeal to the Hispanic community. Since La Curacao customers make the majority of their purchases on the store’s own credit card, the company possesses a wealth of customer data that is used to develop innovative ways to reach its target demographic and identify the most profitable locations for new stores.

Using AnySite® Online, an easy-to-use, Internet-based mapping and site reporting solution, La Curacao conducts geodemographic analysis on its customer information, which helps uncover potential new site locations and assess the profitability of future stores.

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Pitney Bowes Announces Strategic Actions and Provides Guidance for 2008

Posted by | Nov 15, 2007 | |

First, following a comprehensive review of the company’s business portfolio, the company has decided to explore strategic alternatives to determine the best course of action for its U.S. Management Services business.

Second, the company’s Board of Directors has increased the share repurchase authorization to USD 500 million. The company plans to complete the repurchases within six months. The larger size of the program reflects the company’s strong cash flow as well as its confidence in the stock as an attractive investment opportunity.

Third, the company’s Board of Directors has authorized a 2 cent increase in the quarterly dividend. This represents a 6 percent rate of increase and will apply to the dividend with a record date of February 18, 2008.

Fourth, the company is initiating a program to lower its cost structure, accelerate efforts to improve operational efficiencies, and transition its product line. In connection with these transition initiatives, the company expects to record charges of USD 300 to USD 400 million. The program will include non-cash charges associated with the write-off of inventory and lease residuals of older equipment that the company will stop selling as it transitions to the new generation of fully digital, networked, and remotely-downloadable equipment.

The balance will be cash charges related to efforts to lower the cost structure and accelerate improvements in operational efficiencies. As a result of this program, the company expects a net reduction of about 1,500 positions across business lines and geographies, representing approximately 4 percent of the global employment base.

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