Pitney Bowes intends to acquire Portrait Software plc

Pitney Bowes MapInfo UK Limited is a wholly owned subsidiary of Pitney Bowes Inc. (NYSE: PBI) while Portrait Software plc is a company that provides software to enhance existing customer relationship managementsystems.

Murray Martin, Pitney Bowes Chairman, President and CEO, said, “We are delighted to have reached agreement with the Board of Portrait Software on this recommended transaction.”

“Pitney Bowes's scale and broad geographic footprint will open up new markets for Portrait Software's products and will provide a platform from which to achieve growth in the future,” he added.