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Pitney Bowes acquires PSI Group

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Stamford, Conn.--Pitney Bowes Inc. on Thursday said it has agreed to acquire mail pre-sorter PSI Group Inc. in a $130 million stock transaction. PSI prepares, sorts and aggregates mail for business mailers that want to earn Postal Service discounts; pre-sorting is a $1.2 billion industry. PSI will become a wholly owned subsidiary of the Pitney Bowes. The transaction is expected to close in the third quarter of this year.
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