Pitney Bowes Acquires Asterion SAS
STAMFORD, Conn., September 12, 2007 - Pitney Bowes Management Services International, a division of Pitney Bowes Inc. (NYSE:PBI), today announced the successful completion of the acquisition of Asterion SAS for approximately €24 million in cash. The transaction also included Asterion’s two subsidiaries Asterion Sud and Asterion Direct. Asterion is the leading provider of outsourced transactional print and document process services in France. Asterion will become a wholly owned subsidiary of Pitney Bowes, continuing to operate under its current management.
This acquisition is part of the company’s ongoing expansion throughout the mailstream to enhance customer value according to Murray D. Martin, President and CEO. “Businesses worldwide are looking for partners to help them manage the complete document production cycle. The French market is one of the fastest growing markets for document processing and, the Asterion acquisition puts us as at the forefront of delivering high value transactional print and document processing solutions in France. This acquisition allows us to provide our customers with expanded services that complement our capabilities in the global mailstream.”
Asterion has a diverse customer base and generated $88 million of revenue in 2006. It employs 740 people, all of whom are located at its current headquarters in St. Denis, France, and its nine facilities located throughout France.
Pitney Bowes is a mailstream technologies company that helps organizations manage the flow of information, mail, documents and packages. Our 35,000 employees deliver technology, service and innovation to more than two million customers worldwide. The company was founded in 1920 and its annual revenues now total $5.9 billion. More information is available at www.pb.com.
The statements contained in this news release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by their use of forward-looking terminology such as the words “expects,” “anticipates,” “intends” and other similar words. Such forward-looking statements include, but are not limited to, statements about growth strategies, market expansion, etc. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to: severe adverse changes in the economic environment, timely development and acceptance of new products or gaining product approval; successful entry into new markets; changes in interest rates; and changes in postal regulations, as more fully outlined in the company’s 2006 Form 10-K Annual Report filed with the Securities and Exchange Commission. In addition, the forward-looking statements are subject to change based on the timing and specific terms of any announced acquisitions. The forward-looking statements contained in this news release are made as of the date hereof and we do not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.