Pitney Bowes CEO and chairman, Michael J Critelli, says the acquisition of Emtex is part of the company's strategic framework for growth
Pitney Bowes has signed a $41m agreement to acquire all Emtex Ltd’s outstanding shares. Emtex’s software and services allow large volume mailers to simplify document production and centrally manage complex multi-vendor and multi-site print operations. Upon completion of this transaction, Emtex will become a wholly owned subsidiary of Pitney Bowes within its Document Messaging Technologies division. Subject to regulatory approval and completion of other customary conditions, the transaction is expected to close in the first quarter of 2006.
Pitney Bowes CEO and chairman, Michael J Critelli, says the acquisition is part of the company’s strategic framework for growth.
"We are successfully growing our mailstream presence by continuing to add value for our customers,” says Critelli. “Emtex helps us fill a critical gap between document creation and mail finishing operations in large production mail environments.
We can now deliver an end-to-end solution for customers worldwide, by combining Emtex’s capabilities with those of our Document Messaging Technologies division, which includes Group 1.
“This transaction accelerates our ability to deliver a wider range of software and services to high volume mailers; expands our management capabilities in multi-vendor print and production mail environments; and, enlarges our professional services portfolio and global customer base."
Emtex’s software and services help bring added efficiency, simplicity and increased productivity to these complex environments. This includes transforming print data to a common format that can be easily manipulated for any brand of printer or for electronic output. Emtex generated approximately $15m in revenue in its last fiscal year by serving customers in 20 countries in industries such as banking, insurance, outsourcers and service bureaus.
Emtex president and general manager, Tim Moylan, says the company is excited about playing a role in Pitney Bowes’ vision for providing more software, services and solutions to high volume mailers.
“All of our customers will benefit from the end-to-end document management, print and mail solutions that this transaction makes possible," says Moylan.
Emtex is headquartered in the UK and employs approximately 105 people worldwide.
