World News: Pitney Bowes to acquire MapInfo for $408m

World News:  Pitney Bowes to acquire MapInfo for $408m

Pitney Bowes has entered into a merger agreement to acquire MapInfo Corp for approximately $408 million in cash.

The transaction is expected to close in the second calendar quarter of 2007, subject to the completion of customary conditions.

It is anticipated that MapInfo will operate as a wholly-owned subsidiary of Pitney Bowes within its software segment.

MapInfo’s location intelligence solutions tools and services are used by more than 7,000 organisations worldwide in virtually every industry.

Established in 1986, MapInfo has locations in Canada and the US, UK, Europe, Australia and Asia. The company’s location intelligence solutions are available in multiple languages through a network of strategic partners and distribution channels in sixty countries.

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