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SOFTWARE INDUSTRY NEWS |
Decks cleared for Pitney Bowes's acquisition of Portrait Software |
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Pitney Bowes MapInfo UK Limited, a wholly-owned subsidiary of Pitney Bowes Inc. has announced that it has received acceptances for over 90 percent of the  existing issued ordinary shares of Portrait Software plc and consequently the acquisition is now wholly unconditional. Portrait Software is an English company that provides software to enhance existing customer relationship management systems, enabling clients to achieve improved customer retention and profitability. In its statement, Pitney Bowes said that it now effectively controls Portrait Software and will begin business integration activities immediately. For shareholders who have not yet tendered their shares, Pitney Bowes said it would keep the original offer open indefinitely, which is £0.31 in cash for each outstanding share of Portrait Software, while commencing the process for compulsory acquisition of the outstanding shares. Portrait Software applications help companies increase their level of engagement with their customers by allowing them to design and execute more effective customer service and marketing campaigns based on superior insight into customer behavior. By applying these software tools, companies can see greater return on investment for their marketing dollars. |
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