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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

May 16, 2005 (May 12, 2005)
Date of Report (Date of earliest event reported)

Pitney Bowes Inc.
(Exact name of registrant as specified in its charter)

Delaware                        1-3579                06-0495050
(State or other jurisdiction of   (Commission file number)   (I.R.S. Employer
incorporation or organization)                              Identification No.)

World Headquarters
1 Elmcroft Road
Stamford, Connecticut 06926-0700
(Address of principal executive offices)

(203) 356-5000
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))

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ITEM 8.01.        OTHER EVENTS

The Company's press release dated May 12, 2005 regarding its announcement to
acquire Imagitas, Inc. is attached hereto as Exhibit 99.1 and incorporated
herein by reference.

ITEM 9.01.        FINANCIAL STATEMENTS AND EXHIBITS

(c)  Exhibits

99.1     Press release of Pitney Bowes Inc. dated May 12, 2005

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

Pitney Bowes Inc.

May 16, 2005

/s/ B.P. Nolop
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B.P. Nolop
Executive Vice President and
Chief Financial Officer
(Principal Financial Officer)

/s/ S.J. Green
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S.J. Green
Vice President - Finance and
Chief Accounting Officer
(Principal Accounting Officer)

Exhibit 99.1
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PITNEY BOWES TO ACQUIRE IMAGITAS

STAMFORD, Conn. May 12, 2005- Pitney Bowes Inc. (NYSE:PBI) today signed a
definitive agreement to acquire 100% of the stock of Imagitas, Inc. for
approximately $230 million, net of unrestricted cash on the balance sheet of
Imagitas. Imagitas is a marketing services company that specializes in using the
mail to help companies connect with hard to reach consumers. Imagitas will
become a wholly-owned subsidiary of Pitney Bowes within its Global Business
Services segment, continuing to operate under its current management. Subject to
satisfaction of regulatory and other customary conditions, the transaction is
expected to close by the end of second quarter 2005.

This acquisition is another example of the company's implementation of its
growth strategies, according to Michael J. Critelli, Chairman and CEO of Pitney
Bowes. "The acquisition of Imagitas helps us expand our presence in the
mailstream, and add to the array of valuable services that we currently deliver
to our customers. We are helping large mailers optimize the power of mail to
grow their business by combining the expertise, relationships and marketing
channels of Imagitas, with our mailing and document management systems, software
and services. This acquisition expands our presence in direct mail applications
and leverages our leading mail services network."

Imagitas, headquartered in Waltham, MA, forms strategic partnerships with
organizations such as Departments of Motor Vehicles and the U.S. Postal Service,
that are looking to improve customer communication and provide customers with
alternative options for completing required processes remotely. Imagitas creates
information-packed kits to guide recipients through designated processes
including mail-in forms, valuable information about how to complete the process
and interact with the organization, and relevant offers from co-marketing
partners of Imagitas across a broad range of industries such as retail,
automotive and financial services. The privately-held company had revenue of
approximately $87 million in 2004 and employs about 100 people.

According to Brett Matthews, current CEO and founder of Imagitas, "We are
excited about becoming part of Pitney Bowes. We specialize in matching life
events and marketing information and services that are most relevant to the
individual at the time. We are excited about how our overall expertise and
services fit with Pitney Bowes mailstream management strategy for its customers.
Together our customers will benefit from a wider range of services designed to
produce a higher return on their mailing investment."

Pitney Bowes is the world's leading provider of integrated mail and
document management systems, services and solutions. The $5.1 billion company
helps organizations of all sizes efficiently and effectively manage their
mission-critical mail and document flow in physical, digital and hybrid formats.
Its solutions range from addressing software and metering systems to print
stream management, electronic bill presentment and presort mail services. The
company's 85 years of technological leadership have produced many major
innovations in the mailing industry, and it is consistently on the Intellectual
Property Owner's list of top U.S. patent holders. With approximately 35,000
employees worldwide, Pitney Bowes serves more than 2 million businesses through
direct and dealer operations. Visit www.pb.com for more information on the
company.

The statements contained in this news release that are not purely
historical are forward-looking statements with 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 2004 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.