Pitney Bowes Expands Shipping Portfolio with Acquisition of CrescoData
STAMFORD, Conn., November 04, 2021 - Pitney Bowes Inc. (NYSE: PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced the acquisition of CrescoData, a Platform-as-a-Service (PaaS) business in the commerce space. Terms of the deal were not disclosed.
Based in Singapore, CrescoData’s Commerce Connect Platform provides integration to over 85 commerce channels through a single API, and enables mapping and automating of product, stock, and order data between the platforms. This strategic investment enhances the Company’s product offerings for mid-high volume Ecommerce shippers. It also accelerates Pitney Bowes Enterprise Shipping and Locker go-to-market strategy for the Retail and Pharmacy verticals.
“Shipping is a significant growth area for Pitney Bowes as our Shipping Index predicts volumes will double in the next five years. CrescoData’s state-of-the-art technology is a perfect complement to our SendPro shipping portfolio,” said Jason Dies, Senior Vice President and President, Sending Technology Solutions, Pitney Bowes. “Integrating CrescoData into the Pitney Bowes family allows us to better serve our clients with broader offerings and enhances our end-to-end solution capabilities.”
“Our team is delighted to be joining Pitney Bowes. This integration not only expands the offerings for Pitney Bowes, but allows us to pursue new clients backed by the strength of a trusted company with a long history of innovating,” said Anna Trybocka, founder of CrescoData. “To be part of a company squarely focused on the shipping opportunity and providing value for its clients creates exciting opportunities for growth.”
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For additional information, visit Pitney Bowes at www.pitneybowes.com.