Pitney Bowes Advances Long-Term Growth Strategy in Europe
January 31 2019 - 8:00AM
Business Wire
Pitney Bowes Inc. (NYSE:PBI) a global technology company that
provides commerce solutions in the areas of ecommerce, shipping,
mailing, and data, today announced a continued optimization in its
go-to-market strategy through the sale of its SMB business in six
European countries - Sweden, Norway, Denmark, Finland, Switzerland,
and Italy - to BAVARIA Industries Group AG, a leading global
private equity firm. Pitney Bowes continues to make significant
progress in continuing to create a portfolio focused on growth
through shipping and mailing within major markets.
“This acquisition is beneficial for both Pitney Bowes and
BAVARIA Industries Group AG,” said Christoph Stehmann, Executive
Vice President, International, SMB Solutions. “In BAVARIA
Industries Group AG, we have found the ideal partner with the
committed resources to deliver a positive client experience for our
entire portfolio throughout Europe. We will work closely with
BAVARIA Industries Group AG to ensure the transition happens
without disruption to our employees, clients, suppliers and
partners.”
BAVARIA Industries Group AG will continue selling Pitney Bowes
products exclusively in all six markets and Pitney Bowes will
provide services to ensure a smooth transition. In the six European
countries, small businesses will continue to benefit from Pitney
Bowes’ shipping and mailing offerings through BAVARIA’s teams who
will respond to local market demands more quickly, broaden the
product portfolio in each country for an enhanced client
experience. Terms of the deal were not disclosed.
Pitney Bowes management is scheduled to discuss the company’s
year-end results in a broadcast over the Internet at 8 a.m. EST on
February 5. Instructions for listening to the earnings results via
the Web are available on the Investor Relations page of the
Company’s web site at www.pb.com.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global technology company providing
commerce solutions that power billions of transactions. Clients
around the world, including 90 percent of the Fortune 500, rely on
the accuracy and precision delivered by Pitney Bowes solutions,
analytics, and APIs in the areas of ecommerce fulfillment, shipping
and returns; cross-border ecommerce; presort services; office
mailing and shipping; location data; and software. For nearly 100
years Pitney Bowes has been innovating and delivering technologies
that remove the complexity of getting commerce transactions
precisely right. For additional information visit Pitney Bowes, the
Craftsmen of Commerce, at www.pitneybowes.com.
This document contains “forward-looking statements” about its
expected or potential future business and financial performance.
For us forward-looking statements include, but are not limited to,
statements about its future revenue and earnings guidance and other
statements about future events or conditions. Forward-looking
statements are not guarantees of future performance and 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: mail volumes; the uncertain
economic environment; timely development, market acceptance and
regulatory approvals, if needed, of new products; fluctuations in
customer demand; changes in postal regulations; interrupted use of
key information systems; management of outsourcing arrangements;
the implementation of a new enterprise resource planning system;
changes in business portfolio; foreign currency exchange rates;
changes in our credit ratings; management of credit risk; changes
in interest rates; the financial health of national posts; and
other factors beyond its control as more fully outlined in the
Company's 2013 Form 10-K Annual Report and other reports filed with
the Securities and Exchange Commission. Pitney Bowes assumes
no obligation to update any forward-looking statements contained in
this document as a result of new information, events or
developments.
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version on businesswire.com: https://www.businesswire.com/news/home/20190131005232/en/
John SpadaforaPitney Bowes
Inc.518-708-3466john.spadafora@pb.com
Hina SharmaPitney Bowes Europe+44 (0) 7595 092
430hina.sharma@pb.com
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