Pitney Bowes agrees to acquire Danka Services

Office World News, May 2001

STAMFORD, CT-Pitney Bowes Inc. has entered into an agreement to acquire Danka Services International (DSI), a wholly owned division of Danka Business Systems PLC, for $290 million in cash. The parties expect the transaction to close by the end of the second quarter of 2001.

The acquisition provides critical mass, additional expertise, and strengthened international market share for Pitney Bowes and is an important growth strategy to support global enterprises with sophisticated, high-value document management services. "Acquiring DSI is in accord with our mission to provide leading edge, global, integrated mail and document management solutions. More than ever, today's corporations see their documents as strategic assets and understand that information sharing, through efficient document imaging, distribution management, can "unlock" this value and build distinct competitive advantage," said Michael J. Critelli, chairman and CEO, Pitney Bowes.

Pitney Bowes' approach adds measurable value across the document lifecycle, linking both physical and electronic forms in a flexible, easily accessible and leverageable network. "From outgoing and incoming mail and messaging management, document creation production, to distribution, archiving and retrieval, Pitney Bowes Management Services provides a variety of ways to input, access, and manage documents, giving customers tools that match their tasks, processes, and their individual work habits," said Critelli.