Pitney Bowes to acquire Emtex
Pitney Bowes Inc. today announced that it has signed a definitive agreement to acquire all of the outstanding shares of Emtex Ltd. for approximately USD41 million. Emtex’s software and services allow large-volume mailers to simplify document production and centrally manage complex multi-vendor and multi-site print operations. Upon completion of this transaction, Emtex will become a wholly-owned subsidiary of Pitney Bowes within its Document Messaging Technologies division. Subject to regulatory approval and completion of other customary conditions, the transaction is expected to close in the first calendar quarter of 2006. This acquisition is part of the company’s strategic framework for growth, according to Michael J. Critelli, Chairman and CEO of Pitney Bowes. “We are successfully growing our mailstream presence by continuing to add value for our customers. Emtex helps us fill a critical gap between document creation and mail finishing operations in large production mail environments.”
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