Pitney Bowes to buy MapInfo for $408 mln
NEW YORK, March 15 (Reuters) - Pitney Bowes Inc. (PBI.N), the largest maker of mail-handling machines, said on Thursday it would buy MapInfo Corp. MAPS.O for about $408 million as it bolsters its location-based information offered to clients. Pitney Bowes said it would launch a tender offer for all outstanding common shares of MapInfo at $20.25 per share. MapInfo closed at $13.21 on Wednesday.
MapInfo makes software that helps business customers evaluate everything from where to situate a new retail outlet to where to build a wireless tower. The purchase is expected to close in the second quarter.
((Reporting by Michele Gershberg, editing by Gerald E. McCormick; Reuters Messaging: michele.gershberg.reuters.com@reuters.net; E-mail: michele.gershberg@reuters.com; +1-646-223-6185)) Keywords: PITNEYBOWES MAPINFO/
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