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Pitney Bowes to acquire MapInfo

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Stamford, Conn.—Pitney Bowes announced it has agreed to acquire MapInfo Corp. for about $408 million in cash. The Troy, N.Y.-based location software company serves more than 7,000 clients from a number of industries. Pitney said the acquisition strengthens its position in the location intelligence market; MapInfo gains access to more than 2 million Pitney Bowes global customers. The transaction is expected to close in the second quarter. MapInfo will operate as a wholly owned subsidiary of Pitney Bowes.
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