Apollo To Pay $400M For Pitney Bowes' Management Ops

Law360, New York (July 30, 2013, 1:36 PM EDT) -- Funds affiliated with Apollo Global Management LLC have reached an agreement to acquire the management services division of digital technology services firm Pitney Bowes Inc. for roughly $400 million in cash, the companies announced Tuesday.

The New York-based private equity titan said it expects to close the all-cash deal in the fourth quarter of 2013. The Pitney Bowes division, known as Pitney Bowes Management Services Inc., will continue to be operated by the Stamford, Conn.-based digital technology firm until the transaction is completed.

Pitney Bowes president...
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