Pitney Bowes

Pitney Bowes Inc.

Type	Public (NYSE: PBI) S&P 500 Component
Industry	Business Services
Founded	1920
Headquarters	Stamford, Connecticut, U.S.
Key people	Arthur Pitney, Founder Walter Bowes, Founder Murray D. Martin, Chairman, President and CEO Michael Monahan, EVP and CFO
Products	Metering Systems Addressing Software Presort Mail Services CRM software Location intelligence Document composition
Revenue	$5.4 billion USD (2010)
Employees	36,165 (2008)
Website	www.pb.com

Pitney Bowes headquarters in Stamford

Pitney Bowes Inc. (NYSE: PBI) is a Stamford, Connecticut-based manufacturer of software and hardware and a provider of services related to documents, packaging, mailing, and shipping. The company has approximately 36,000 employees worldwide. It is one of 87 existing firms that have been members of the S&P 500 since its creation in 1957.

Other major U.S. centers of operation include Danbury, Connecticut, Shelton, Connecticut, Troy, New York, and Lanham, Maryland.

History

In 1902, Arthur Pitney patented his first "double-locking" hand-cranked postage-stamping machine, and, with patent attorney Eugene A. Rummler, founded the Pitney Postal Machine Company. In 1908, English emigrant and founder of the Universal Stamping Machine Company Walter Bowes began providing stamp-canceling machines to the United States Postal Service. Bowes moved his operations to Stamford in 1917. A rapid increase in mail volume in 1919 made the Post Office more receptive to metered mail, and Pitney subsequently traveled to meet Bowes. On March 15, 1920, the United States House of Representatives passed a bill authorizing mechanical stamps on First-Class Mail, and on April 23, 1920, the two companies merged to form the Pitney Bowes Postage Meter Company, with the goal of producing a machine that would combine Pitney's "double-locking" counter with Bowes's system for wrapping postage payment, postmarking and cancellation. The United States Post Office approved their postage meter on August 25, 1920.

Between 1922 and 1923, the government collected $4,359,070 in postage from the first commercial installations of 400 meters. Pitney Bowes also began to sell their products internationally.

In 1938, Walter H. Wheeler, Jr. was named President and Chairman of the Board and would lead the company over the next three decades. In the 1940s, Wheeler boycotted a hotel when it refused to register one Black salesperson, championing a spirit of diversity that still exists today, writing: "Pitney Bowes' worksites will reflect the communities in which we operate."

Pitney-Bowes received an Army-Navy ‘E’ Award denoting excellence in production of crucially needed instruments of war on February 1, 1943.

The company was listed on the New York Stock Exchange in 1950. The same year, the National Urban League recognized Pitney Bowes for its leadership in providing job opportunities to African Americans.

Pitney Bowes was named to the S&P 500 at the time of its creation in 1957 and joined the Fortune 500 in 1962.

In 1968 Pitney Bowes acquired the Monarch Marking System Company, which would produce the first barcode equipment for retail trade use. In 1976, the Pitney Bowes Credit Corporation was formed, providing customers with financing and payment solutions. (Pitney Bowes would continue to grow this line of business, launching the Pitney Bowes Bank in 1996.)

In the 1980s, the firm expanded, offering copy machines and facsimile machines, a suite of management services and entering new markets, such as Japan.

In the 1990s, Pitney Bowes continued to innovate in the field of digital technologies and software, introducing the AddressRight address & barcode printer (1991), the first in-line weighing and metering system (1992), the first secure digital postage meter (1995), the first ink jet postage meter (1996) and the Digital Document Deliver (D3) platform (1998) which provides message management via hard copy, web, email and fax.

Between 2000 and 2007, Pitney Bowes invested $2.5 billion in 83 acquisitions, primarily in software and services businesses including MapInfo, Group 1 Software, PSI Group and Imagitas. The company is known as an industry advocate, and has focused in recent years on advancing postal reform, the USPS Intelligent Mail barcode, transpromo and environmental sustainability.^{[citation needed]}

Research and technology

Pitney Bowes intellectual property portfolio includes more than 3,500 patents worldwide [1] in areas such as ticketing, cellular phone payment, shipping, laser printing, encryption and mail production and processing. The Intellectual Property Owners (IPO) Association has consistently ranked Pitney Bowes in the top 200 companies receiving U.S. patents. Six of these patents are held by retired Executive Chairman Michael J. Critelli.

Significant acquisitions

Since 2000, Pitney Bowes has invested $2.5 billion in 83 acquisitions, primarily in software and services businesses.

2010: Portrait Software plc, Henley-on-Thames, England; provides "customer-centric solutions that combine advanced customer analytics with inbound and outbound campaign management".
2007: MapInfo, Troy, NY; provides location intelligence solutions.
2007: Digital Cement [2], Toronto, Canada; provides customer relationship management strategy and services.
2006: Print Inc., Bellevue, WA; provides print management solutions.
2006: Advertising Audit Service (AAS) and PMH, MI; offers web-based tools for customized promotional mail and marketing collateral and designs and manages customer and channel performance solutions.
2006: Ibis Consulting, Inc., RI; provides electronic discovery services and solutions to law firms and corporate clients.
2006: Emtex Ltd., England; provides software and services that simplify document production and centrally manage multi-vendor and multi-site printer operations.
2005: Imagitas [3], Waltham, MA; provides marketing services that use the mail to help companies connect with hard to reach consumers, including new movers through My Move [4].
2005: Compulit Inc., MI; provides litigation support services to law firms and corporate clients.
2004: International Mail Express (IMEX), NY; consolidates letters and flat-sized mail headed to international addresses.
2004: Group 1 Software Inc., Lanham, MD; provides software that enhances mailing efficiency, data quality and customer communications.
2004: Kilburn Office Automation Limited, acquired the mailing business division for a direct entry into the lucrative Indian Market. Pitney Bowes was advised by Nitin Banerjee and Nitesh Bhasin.
2003: DDD Company, MD; provides fulfillment services, secure mail process, messenger services, logistics support, and record and information management.
2002: PSI Group, Inc., Omaha, NE; provides pre-sort mail services.
2001: Danka Services International (DSI), London, England; provides imaging equipment, and related services, parts and supplies in approximately 30 countries.
2001: Secap SA, France; provides a range of mail processing and paper handling equipment for low- to mid-volume mailers.
2001: Bell & Howell’s International MMT, London, England; markets and services high-end mail processing, sorting and service-related products.

Awards and recognition

• “Global Outsourcing 100” – IAOP; Pitney Bowes Management Services (2008)
• “#1 Transportation Management System” – ARC Advisory Group (2008)
• “Leadership Award” -- Institute for Health and Productivity Management (2007)
• “Behavioral Health Awards” – National Business Group (2007)
• “WasteWise Hall of Fame” – US Environmental Protection Agency (2007)
• “40 Best Companies for Diversity” – Black Enterprise Magazine (2007)
• “One of World’s Most Ethical Companies” – Ethisphere Magazine (2007)
• “100 Best Corporate Citizens” – CRO Magazine (2007)^{[citation needed]}

Further reading

• Cahn, William (1961). The Story of Pitney-Bowes. New York: Harper & Brothers. 
• Open Mike Blog of Michael J. Critelli, Pitney Bowes Executive Chairman

External links

• Pitney Bowes Business Solutions
• Pitney Bowes Email Marketing Solutions