United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM 8 - K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 20, 2004
PITNEY BOWES INC.
Commission File Number: 1-3579
State of Incorporation IRS Employer Identification No.
Delaware 06-0495050
World Headquarters
Stamford, Connecticut 06926-0700
Telephone Number: (203) 356-5000
Item 5 - Other Events.
The registrant's press release dated July 20, 2004 regarding its announcement of
the successful completion of its acquisition of Group 1 Software, Inc.
Item 7 - Financial Statements and Exhibits.
c. Exhibits.
The following exhibit is furnished in accordance with the provisions of Item 601
of Regulation S-K:
Exhibit Description
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(1) Pitney Bowes Inc. press release dated July 20, 2004.
Signatures
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PITNEY BOWES INC.
July 20, 2004
/s/ B.P. Nolop
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B. P. Nolop
Executive Vice President and
Chief Financial Officer
(Principal Financial Officer)
/s/ J.R. Catapano
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J. R. Catapano
Controller
(Principal Accounting Officer)
EXHIBIT 1
PITNEY BOWES COMPLETES ACQUISITION OF
GROUP 1 SOFTWARE
STAMFORD, Conn., July 20, 2004 - Pitney Bowes Inc. (NYSE:PBI) today announced
the successful completion of its acquisition of Group 1 Software, Inc., at a net
cost of approximately $321 million. Group 1 is an industry leader in software
that enhances mailing efficiency, data quality and customer communications. As a
wholly owned subsidiary of Pitney Bowes, Group 1 will operate under
substantially the same management as it does now within the company's Global
Enterprise Solutions segment.
"We are pleased to complete the acquisition of Group 1," said Michael
J. Critelli, Chairman and CEO of Pitney Bowes. "Their industry leading
infrastructure, expertise and solutions will help us better serve our customers,
while expanding our global reach, growing our mailstream participation and
laying the foundation for profitable expansion in the customer communication
management market. Together we will help our customers be successful by
providing a range of solutions for mailing efficiency, data quality, data
integration, business intelligence, business geographics and customer
communication."
Group 1, based in Lanham, MD, employs approximately 600 people
worldwide with sales offices in the U.S., Canada, U.K. and Europe, Japan, South
Korea, Singapore, Malaysia, and China, and development centers in Lanham, MD,
Austin, TX, Minneapolis, MN, Boulder, CO, Mountain View, CA, Toronto, Canada,
and the London, England area.
"This is a very positive move for Group 1 and our customers as we look
to use the combined strengths of Pitney Bowes and Group 1 to deliver even
greater value to the marketplace," said Bob Bowen, CEO of Group 1.
Pitney Bowes is a $4.6 billion global provider of integrated mail and
document management solutions headquartered in Stamford, Connecticut. The
company serves over 2 million businesses of all sizes in more than 130 countries
through direct and dealer operations. For more information please visit
www.pb.com.
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The statements contained in this news release that are not purely historical are
forward-looking statements with the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements
may be identified by their use of forward-looking terminology such as the words
"expects," "anticipates," "intends" and other similar words. Such
forward-looking statements include, but are not limited to, statements about
growth strategies, market expansion, etc. Such forward-looking statements
involve risks and uncertainties that could cause actual results to differ
materially from those projected. These risks and uncertainties include, but are
not limited to: severe adverse changes in the economic environment, timely
development and acceptance of new products or gaining product approval;
successful entry into new markets; changes in interest rates; and changes in
postal regulations, as more fully outlined in the company's 2003 Form 10-K
Annual Report filed with the Securities and Exchange Commission. In addition,
the forward-looking statements are subject to change based on the timing and
specific terms of any announced acquisitions. The forward-looking statements
contained in this news release are made as of the date hereof and we do not
assume any obligation to update the reasons why actual results could differ
materially from those projected in the forward-looking statements.
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