Pitney Bowes Advances Long-Term Growth Strategy in Europe
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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