Pitney Bowes Wraps Emtex Buy
Pitney Bowes Inc. completed its acquisition of Emtex Ltd. for about $41 million, the mailstream products provider said yesterday.Emtex's software and services let large-volume mailers simplify document production and centrally manage complex multi-vendor and multi-site print operations. As a wholly owned subsidiary of Pitney Bowes, Emtex will operate under much the same management as it does now within the company's Document Messaging Technologies division.
Emtex generated about $15 million in revenue in its last fiscal year and is based in Kings Langley, UK, with offices in Toronto; Boca Raton, FL; Dallas and Canoga Park, CA. It employs about 105 people.
"Together we can help large mailers more seamlessly manage the production of high volumes of effective, cost-efficient, personalized mailings," said Michael J. Critelli, chairman/CEO of Pitney Bowes, Stamford, CT.
