Pitney Bowes acquires Mapinfo

BANGALORE: Pitney Bowes Inc. today announced that it has completed the acquisition of MapInfo Corporation for $20.25 net per share in cash.

Magellan Acquisition Corp., a wholly owned subsidiary of Pitney Bowes merged with MapInfo and it is renamed as PB MapInfo Corporation, Pitney said in a statement.

As a result of the merger, all outstanding shares of MapInfo, other than those held by holders who demand appraisal rights, have been converted into the right to receive $20.25 in cash, without interest (the same price paid in the tender offer), the statement added.

Pitney Bowes $5 billion company provides the suite of mailstream software, hardware, services and solutions to help companies manage their flow of mail, documents and packages to improve communication. It has 35,000 employees worldwide, serves more than two million businesses through direct and dealer operations.

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