(PBI) Pitney Bowes to Divest Management Business

Recently Pitney Bowes Inc. (PBI) announced its plan to sell the management services business wing in the United Kingdom and Republic of Ireland to Swiss Post Solutions. Swiss Post Solutions is a division of Swiss Post that offers a comprehensive range of business process management services. Pitney’s two regional subsidiaries, namely Pitney Bowes Limited and Pitney Bowes Ireland Limited, inked an agreement for an undisclosed amount with Swiss Post for this purpose. Although the detailed terms of the contract are yet to be revealed, the company has clarified that this transaction will not cover Marketing Lifecycle Services (MLS), which will continue to be operated by Pitney itself. The transaction is expected to be complete within three months of the announcement. After a thoughtful consideration, the management at Pitney found the