Connecticut, USA, 19 April 2007: Pitney Bowes announced that it has successfully completed the acquisition of MapInfo Corporation at a price of $20.25 net per share in cash.
With the present acquisition from Magellan Acquisition Corporation of Pitney Bowes MapInfo has changed its name to PB MapInfo Corporation. The merger followed the successful completion by Magellan Acquisition Corporation of a tender offer for all shares of MapInfo at $20.25 net per share in cash which was completed on April 18, 2007. As a result of the merger, all shares of MapInfo, other than those held by holders who demand appraisal rights, have been converted into the right to receive $20.25 in cash, without interest (the same price paid in the tender offer).
MapInfo stockholders whose shares were not validly tendered and accepted for payment in the tender offer will receive a Notice of Merger and a Letter of Transmittal that will instruct them on how to receive the merger consideration, and a Notice of Appraisal Rights under the Delaware General Corporation Law.
Pitney Bowes provides suite of mailstream software, hardware, services and solutions to help companies manage their flow of mail, documents and packages to improve communication. For more information about the company visit www.pb.com.