Pitney Bowes to Acquire Print, Inc.
Pitney Bowes, Stamford, Conn., recently announced it has signed a definitive agreement to acquire 100 percent of the stock of Print, Inc., Bellvue, Wash., for approximately $47 million, net of cash and debt.
Print, Inc. is a leader in a rapidly growing component of the print management market that provides bundled offerings of printer supplies, service and equipment to manage document production. These operations will be integrated into a wholly-owned subsidiary of the company, and operate as part of its Pitney Bowes Direct group led by Neil Metviner, executive vice president and president of Pitney Bowes Direct.
The acquisition helps the company add value in another critical part of the mailstream, according to Michael J. Critelli, chairman and CEO of Pitney Bowes. “Managing the printing of documents is a key activity involved in the production of effective mail and documents,” he said. “Yet, as important as it is, most businesses rely on an array of separate vendors to provide printer equipment, supplies, and maintenance and repair services for their printer fleet. By providing bundled offerings of supplies, services and equipment, Print, Inc. pioneered a holistic approach to optimizing print resources and managing total costs.”
For more information, visit www.pb.com or www.printinc.com.