Pitney Bowes to Acquire MapInfo for $408 Million - Stamford, CT
Pitney Bowes, the Stamford-based provider of mail automation and document management technology, has entered into an agreement to acquire MapInfo, a Troy, N.Y.-based provider of "location intelligence" technology, for $408 million in cash. Businesses use MapInfo's technology for a variety of purposes including site selection, risk analysis, marketing, customer services, sales territory alignment and routing. In the public sector, government agencies use MapInfo for crime analysis, asset management, emergency preparedness and response. The company's customers include British Telecom, MasterCard, and The Home Depot, among others.