Pitney Bowes Buys Advertising Audit Service Inc. and PMH Caramanning

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In another step to strategically grow the company, Pitney Bowes Inc. signed a definitive agreement to acquire substantially all of the assets of Advertising Audit Service Inc. and PMH Caramanning.

Terms were not disclosed.

AAS offers web-based tools for customizing promotional mail and marketing collateral. PMH Caramanning designs and manages customer and channel performance solutions.

These operations will become a wholly-owned subsidiary of the Stamford, CT-based company, and operate as part of its Mail Services business led by Michael Monahan, executive vice president and president, global mailing solutions and services.

Subject to the completion of customary conditions, the transaction is expected to close during the second quarter of 2006.

AAS offerings include web-based tools for digital asset management, ad customization, media fulfillment, and co-op advertising management. PMH Caramanning offers turnkey loyalty, incentive and certification solutions, including program strategy, web-based administration as well as collateral and reward fulfillment. Headquartered in Farmington Hills, MI, the combined operations generated approximately $27 million in revenue in 2005.

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