Pitney Bowes Inc. announces that Pitney Bowes Limited and Pitney Bowes Ireland Limited have entered into an agreement with Swiss Post Solutions (SPS) to sell the Pitney Bowes Management Services business in the United Kingdom and Republic of Ireland. This transaction excludes Pitney Bowes Marketing Lifecycle Services (MLS), which will remain a key part of the Pitney Bowes business. Terms of the deal were not disclosed. The transaction is expected to close in the next 90 days.
"After a thorough evaluation of our operations, we have decided to divest our management services business in the UK and Republic of Ireland," said Marc Lautenbach, President and CEO, Pitney Bowes. "While this business is strong and has significant opportunity in the European marketplace, it does not align with our European strategy."
As part of the transaction, the respective PBMS personnel will transfer to SPS to help ensure continuous service delivery and a seamless transition for clients. In addition, a number of PBMS facilities will transfer to SPS. Pitney Bowes remains committed to delivering a high level of service to its clients.