Pitney Bowes, Firstlogic Call Off Merger

Share this article:
Pitney Bowes Inc. and Firstlogic Inc. have canceled their merger agreement, the companies said yesterday.


The move concludes Pitney Bowes' planned acquisition of Firstlogic, which was announced Sept. 1. At the time, Pitney Bowes said it signed a definitive agreement to acquire all of the remaining outstanding shares of Firstlogic for $50.3 million, excluding cash and debt on the balance sheet. Pitney Bowes, Stamford, CT, currently has 10 percent equity ownership of the company.


Firstlogic, La Crosse, WI, would have become a wholly owned subsidiary of Pitney Bowes. Firstlogic develops and markets software and services that improve operations in data quality, mailing efficiency and postal automation.


"After reviewing the Second Request for Information issued by the Federal Trade Commission, we mutually decided that it was in the best interest of all involved not to proceed further with the acquisition," Firstlogic president Eric Lieberman said in a statement. "Although we are naturally disappointed in this result, we have also learned a great deal by going through this process that can make us a better company."


Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

MeritDirect Opens San Jose Office

MeritDirect Opens San Jose Office

A force in direct mail, the company looks to expand its digital data services with a footprint in Silicon Valley.

Neustar Decides to Hand Data Over to its Clients

Neustar Decides to Hand Data Over to its ...

AK Media Insights Pro turns data over to marketers to create business-specific aggregations, integrate offline efforts, and probe deeper into their sales funnels.

Arthur Hughes, Who Wrote the Book on Database Marketing, Dies at 86

Arthur Hughes, Who Wrote the Book on Database ...

First published in the early days of the Web, Arthur Middleton Hughes's Strategic Database Marketing remains a bible for direct marketers.