Pitney Bowes Acquires Asterion SAS in France

Pitney Bowes Management Services International has acquired Asterion SAS for approximately euro24 million in cash

The transaction also included Asterion's two subsidiaries Asterion Sud and Asterion Direct.

Asterion is the leading provider of outsourced transactional print and document process services in France.

Asterion will become a wholly owned subsidiary of Pitney Bowes, continuing to operate under its current management.

"This acquisition is part of the company's ongoing expansion throughout the mailstream to enhance customer value", explained Murray D Martin, president and chief executive officer.

"Businesses worldwide are looking for partners to help them manage the complete document production cycle".

"The French market is one of the fastest growing markets for document processing and the Asterion acquisition puts us at the forefront of delivering high value transactional print and document processing solutions in France".

"This acquisition allows us to provide our customers with expanded services that complement our capabilities in the global mailstream".

Asterion has a diverse customer base and the company generated $88 million of revenue in 2006.

The company employs 740 people, all of whom are located at its current headquarters in St Denis, France.

The company also has nine other facilities located throughout France.

Pitney Bowes Management Services International is a division of Pitney Bowes.

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