STAMFORD, Conn.--(BUSINESS WIRE)--Jan. 31, 2019--
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 GroupAG
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190131005232/en/
Source: Pitney Bowes Inc.
John Spadafora
Pitney Bowes Inc.
518-708-3466
john.spadafora@pb.com
Hina Sharma
Pitney Bowes Europe
+44 (0) 7595 092 430
hina.sharma@pb.com
