Pitney Bowes has reached a definitive agreement to acquire Newgistics Inc., a Texas based provider of parcel delivery, returns, fulfilment and digital commerce solutions for retailers and eCommerce brands. This $475 million investment will accelerate Pitney Bowes’ expansion into the U.S. parcels market.
“Newgistics fits uniquely at the intersection of our parcel growth strategies and will accelerate the overall transformation of Pitney Bowes,” said Marc Lautenbach, President & CEO, Pitney Bowes. “This acquisition – combined with recent innovations in mailing and shipping for SMB clients, organic growth of our global eCommerce business, and expansion of our presort and parcel services network – definitely anchors Pitney Bowes in a growing space and vastly increases the value we can deliver for our clients.”
Newgistics is best known for its returns processing capabilities and provides solutions for some 500 retail clients. The transaction is expected to close by late third or early fourth quarter subject to customary closing conditions.
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