Pitney Bowes completes Digital Cement acquisition
Pitney Bowes Inc. has successfully completed the acquisition of Digital Cement Inc. for approximately $40 million in cash.
Digital Cement is a professional services firm that provides relationship management strategy and services to help companies acquire, retain, manage and grow their customer relationships. In Oct. 2006, Pitney Bowes made an initial investment of $12 million in Digital Cement, resulting in a minority ownership position and a strategic partnership to market its services.
The acquisition is part of the company's focus on delivering more value to customers through high growth areas within the mailstream according to president/CEO Murray D. Martin.
Digital Cement provides Fortune 500 clients in consumer packaged goods, telecom, financial services, retail and health care industries, such as Kraft, FedEx and John Hancock, with a suite of consultative offerings including strategic planning to address business needs; customer experience planning to maximize customer lifetime value; channel and platform integration to deliver unified customer communications; and customer analytics to ensure that marketing programs achieve their desired results
Digital Cement will become part of Pitney Bowes' Marketing Services business led by Mark Cattini. Mark Cattini was named president of Pitney Bowes Marketing Services on May 29. He reports to Leslie Abi-Karam, executive vice president and president, Document Messaging Technologies
Digital Cement employs 121 people, most of whom are located at its Toronto headquarters.