Pitney Bowes to buy MapInfo for location intelligence

Share this content:

Pitney Bowes Inc., a mailstream services provider, has agreed to acquire MapInfo Corp. for about $408 million in cash.

The agreement was made March 15. Stamford, CT-based Pitney Bowes has commenced a weeklong tender offer at a price of $20.25 per share in cash for each outstanding common share of MapInfo.

MapInfo is the leading global provider of location intelligence solutions. MapInfo's tools and services are used by more than 7,000 organizations worldwide, generating $165 million in revenue for fiscal year 2006.

Michael J. Critelli, chairman/CEO of Pitney Bowes, said the acquisition strengthens his firm's position in the growing location intelligence market and enhances its ability to deliver added value to customers worldwide.

"At Pitney Bowes, we have long understood the importance of location in connecting the right information with the right recipient," he said in a statement.

"Increasingly businesses and governments alike are using location-based information to enhance their reach, performance and decision-making capabilities," he said.

MapInfo, established in 1986, is headquartered in Troy, NY, and has 940 employees worldwide with locations in the United States, Britain, Canada, Continental Europe, Australia and Asia.

Mr. Critelli said MapInfo leverages Pitney Bowes' current expertise in location intelligence to deliver a broader range of advanced solutions for retail, communications, insurance, financial services and the public sector as well as strengthening its customer communication management offering.

The transaction is subject to the completion of customary conditions, and is expected to close in the second calendar quarter of 2007. It is anticipated that MapInfo will operate as a wholly owned subsidiary of Pitney Bowes within its software segment.

Pitney Bowes anticipates that within 18 months there will be synergies in the range of $10 million to $15 million from elimination of public company expenses, reduction in administrative infrastructure and increased marketing leverage.

Loading links....

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here