Tech Dealmaker Awards

Pitney Bowes Inc., based in Stamford, Conn., acquired MapInfo Corp. in April of this year to expand its presence in the software market. Under the terms of the $408 million acquisition, Pitney Bowes became whole owner of New York-based, publicly held MapInfo and its 900 employees.

Pitney has operations in over 130 countries, but its software market was mostly in the United States. MapInfo had global operations, sparking interest from Pitney. Within three months from expression of interest in January, the deal was signed. MapInfo is a separate business today, integrated with another software company Pitney acquired in 2004, said Christian S. Schulitz, director, acquisitions and integration document messaging technologies of Pitney Bowes.

“We had a location intelligence business that helps companies strategize as to where to place businesses. MapInfo was the market leader in this area, and they were more of a global company, so we were interested in acquiring them to globalize our software service,” said Schulitz.

MapInfo produces location-based business intelligence software for clients such as The Home Depot. Founded by four Rensselaer Polytechnic Institute students in 1987, MapInfo grew sales to $165.5 million in 2006.

“(The acquisition) leverages our expertise in location intelligence to deliver a broader range of advanced solutions… as well as strengthening our customer communication management offering,” Schulitz said.

— Bridget Botelho is a freelance writer in Providence, R.I.

Category

Top Software/Services M&A Deals Buy Side

The Deal

Pitney Bowes Inc. purchased corporate siting technology company MapInfo Corp. in April for $408 million. Closed as of April 19, 2007.

Key Executives

David Kleinman, vice president, corporate development, Pitney Bowes; Mark Anderson, director, corporate development, Pitney Bowes; Bob Mannis, legal counsel, Pitney Bowes; Christian S. Schulitz, director, acquisitions and integration document messaging technologies, Pitney Bowes.

Deal advisers

Legal: Proskauer Rose (Pitney Bowes); Wilmer Cutler Pickering Hale and Dorr (MapInfo).
Financial: JP Morgan Chase (Pitney Bowes); Jeffries Broadview (MapInfo).

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