Pitney Bowes agrees to buy Firstlogic

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Stamford, Conn.—Pitney Bowes announced Thursday that it has agreed to buy the remaining outstanding shares of Firstlogic for about $50.3 million, excluding cash and debt on the balance sheet.

The transaction is expected to close in the third quarter.

Pitney Bowes currently has 10% equity stake in the data quality company.

Firstlogic is headquartered in La Crosse, Wis., and employs about 400 people. It will become a wholly owned subsidiary of Pitney Bowes.

Pitney Bowes has traction in the data quality market already, with its 2004 acquisition of Group 1 Software.

—Carol Krol



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