Pitney Bowes signed an agreement last week to purchase mail marketing service agency Imagitas for $230 million.
The companies expect the acquisition to be complete by the end of the second quarter, said Pitney Bowes, Stamford, CT. Imagitas will become a subsidiary of Pitney Bowes in its Global Business Services unit and will operate under its current management.
Imagitas, Waltham, MA, specializes in direct mail marketing targeting hard-to-reach consumers, Pitney Bowes said. Imagitas also has partnerships with state departments of motor vehicles and the U.S. Postal Service to provide information kits to consumers on how to use mail-in forms and complete processes remotely.
Pitney Bowes made the acquisition to expand its presence in the direct mail industry and add services it can offer to customers, Pitney Bowes said. Imagitas had revenue of $87 million in 2004 and has about 100 employees.
Scott Hovanyetz covers telemarketing, production and printing and direct response TV 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