Deutsche Post AG, Europe's biggest postal company and owner of shipper DHL, said yesterday that it will pay $443 million for a 75 percent stake in Britain's Williams Lea Group Ltd. with an eye toward acquiring it completely.
Subject to regulatory approval, the acquisition is to close in March.
Williams Lea, London, is a business process outsourcing provider that specializes in document management and mail services. It has operations in Europe and Asia-Pacific and employs 6,500 worldwide. Williams Lea also has strengthened its U.S. presence in recent years.
Deutsche Post said the merger would let it expand its international mail-related business in the United States.
Williams Lea customers include major international corporations in legal and professional services, investment banking, financial services, telecommunications and retail as well as automotive and pharmaceutical companies. Its 2005 revenue was $210 million. The company's management team is expected to remain and retain a significant equity stake.
Melissa Campanelli covers postal news, CRM and database marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters
