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.
Pitney Bowes Inc.
Pitney Bowes Europe
+44 (0) 7595 092 430
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Moody’s Analytics Wins Best Reporting System Provider in Waters Rankings23.7.2019 15:30:00 CEST | Press release
Moody’s Analytics, a global provider of financial intelligence, has won the award for Best Reporting System Provider in the 2019 Waters Rankings. We earned this recognition for our regulatory reporting solution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190723005679/en/ For banks and insurers, staying on top of regulatory changes is critical. Our end-to-end solution handles the entire reporting process, producing 3,000 different regulatory reports covering more than 50 jurisdictions. It automatically delivers all required updates well in advance of the relevant deadlines and makes it easy for clients to review, adjust, audit, and validate their reports. The Moody’s Analytics regulatory surveillance team boasts a wealth of experience in both local and international domains going back decades. They monitor more than 100 supervisor websites to ensure that our clients receive the updates they need in a timely fashion. “Regu
Gilead Presents New Findings on Profile of Descovy® for Potential Use as HIV Pre-exposure Prophylaxis Compared With Truvada®23.7.2019 15:00:00 CEST | Press release
Gilead Sciences, Inc. (NASDAQ: GILD) today presented additional results from the DISCOVER trial evaluating an investigational use of Descovy (emtricitabine 200 mg and tenofovir alafenamide 25 mg tablets; F/TAF) for HIV pre-exposure prophylaxis (PrEP). In a sub-analysis of the DISCOVER trial, Descovy reached intracellular drug concentration levels above the estimated protective threshold significantly more quickly than Truvada (emtricitabine 200 mg and tenofovir disoproxil fumarate 300 mg tablets; F/TDF), and additional pharmacokinetic data confirm that these drug concentration levels persist longer than Truvada. The results were presented at the 10th International AIDS Society Conference on HIV Science (IAS 2019) being held in Mexico City. “Gilead is committed to driving advances in HIV prevention and supporting broader public health initiatives that are designed to reduce HIV infections,” said Diana Brainard, MD, Senior Vice President, HIV and Emerging Viruses, Gilead Sciences. “These
Velodyne Lidar Acquires Mapper.ai for ADAS Launch23.7.2019 15:00:00 CEST | Press release
Velodyne Lidar, Inc. today announced it has acquired mapping and localization software as well as intellectual property assets from Mapper.ai. Mapper technology will enable Velodyne to accelerate development of Vella™, breakthrough software that establishes its directional view Velarray™ lidar sensor. The Velarray is the first solid-state Velodyne lidar sensor that is embeddable and fits behind a windshield, as an integral component for superior, more effective advanced driver assistance systems (ADAS). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190723005257/en/ In addition to ADAS, Velodyne will incorporate Mapper technology into lidar-centric solutions for other emerging applications, including autonomous vehicles, last-mile delivery services, security, smart cities, smart agriculture, robotics, and unmanned aerial vehicles. (Photo: Business Wire) Mapper’s entire leadership and engineering teams will join Velodyne, bol
Wealthy Americans are increasingly willing to invest, new UBS survey finds23.7.2019 14:12:00 CEST | Press release
US high net worth individuals and business owners are expressing growing intentions to invest as US markets continue to hit record highs in 2019, according to UBS Global Wealth Management's new quarterly Investor Sentiment survey. The survey, which polled more than 3,800 wealthy investors and entrepreneurs in 17 countries, also shows US investors remain positive on the U.S. stock market but continue to rank politics and the national debt as top concerns. Fifty percent of US investors see a diversified portfolio as a hedge against US-China trade tensions specifically, in line with UBS GWM's own views, compared with 41% who favor cash. Filippo Ilardi, US Client Strategy Officer at UBS Global Wealth Management, says: "We are pleased to see a substantial increase in investors willing to put more money in the market. Wealthy Americans are concerned about the political environment and US-China trade tensions but we are encouraged that they see diversification as an important way of managing
Andersen Global Expands into Ghana23.7.2019 13:30:00 CEST | Press release
Ghana law firm, Sam Okudzeto & Associates, signed a collaboration agreement with Andersen Global, marking Andersen Global’s presence in 13 African countries and over 51 countries worldwide. Located in the capital of Accra, Sam Okudzeto & Associates is one of the largest law firms in Ghana. For the past 48 years, the firm has provided legal advice and guidance in the corporate and commercial areas, including patents and trademarks, mergers and acquisition, tax advisory, corporate banking, international trade and investment, debt recovery, mining and mineral law, industrial and labor, aviation, maritime law, petroleum oil and gas, and intellectual property. Sam Okudzeto & Associates founder and Managing Partner, Sam Okudzeto and Nene Amegatcher, have led the team since the establishment of the firm until Nene Amegatcher was elevated to the Supreme Court. The firm now has four partners and 18 lawyers who have gained international reputation for their keen knowledge and experience with Alt
Seoul Semiconductor Switches to Rimini Street for SAP Support23.7.2019 13:00:00 CEST | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that Seoul Semiconductor, a global LED development and manufacturing company headquartered in South Korea, has switched from SAP to Rimini Street for support of its SAP ECC 6.0 system. As a result, Seoul Semiconductor has been able to reduce its annual maintenance fee by 50%, enjoy better support and can continue operating its stable, robust ERP ECC 6.0 system for a minimum of 15 additional years from the date the company switched to Rimini Street to retain full support without any forced upgrades or product migrations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190723005031/en/ Seoul Semiconductor, a global LED development and manufacturing company headquartered in South Korea, has switched from SAP to R