Apollo Carving Out Pitney Bowes' Management Services Business
July 31, 2013
Apollo Global Management has agreed to buy Pitney Bowes Management Services from Pitney Bowes (NYSE: PBI) for about $400 million in cash. The deal is expected to close in the fourth quarter. PBMS helps its customers connect to their clients across the world through its software and solutions for communications, document and mail strategies, helping to improve their profits, productivity and customer service.