July 6, 2010 – Pitney Bowes Inc. acquired the majority of stock from customer relationship management system provider Portrait Software plc Monday, according to a company release.
With the acquisition, Pitney Bowes is expanding its range of software offerings, Murray
Martin, Pitney Bowes chairman, president and CEO was quoted to say. “The capabilities we found at Portrait Software are an excellent complement to our existing offerings and will find their way into the suite of tools we provide to organizations of all sizes.”
Pitney Bowes received acceptances for more than 90 percent of the company’s ordinary shares, giving it majority control of Portrait Software, according to a company statement.
Pitney Bowes will keep its original share offer open indefinitely for shareholders who have not tendered their shares, according to the company release.
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