An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Pitney Bowes Inc. (NYSE: PBI) has announced its acquisition of CrescoData, a Platform-as-a-Service (PaaS) provider, to strengthen its offerings in the ecommerce sector. While financial terms were not disclosed, CrescoData's advanced technology enhances Pitney Bowes' shipping portfolio, especially for mid-high volume ecommerce clients. The integration aims to accelerate Pitney Bowes' go-to-market strategy in the Retail and Pharmacy verticals, capitalizing on predicted shipping volume growth of doubling over the next five years.
Positive
Strategic acquisition of CrescoData to enhance ecommerce shipping solutions.
Integration expected to accelerate go-to-market strategy for Retail and Pharmacy sectors.
Positioning for future growth in a market projected to double in shipping volumes.
Negative
None.
STAMFORD, Conn.--(BUSINESS WIRE)--
Pitney Bowes Inc. (NYSE: PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced the acquisition of CrescoData, a Platform-as-a-Service (PaaS) business in the commerce space. Terms of the deal were not disclosed.
Based in Singapore, CrescoData’s Commerce Connect Platform provides integration to over 85 commerce channels through a single API, and enables mapping and automating of product, stock, and order data between the platforms. This strategic investment enhances the Company’s product offerings for mid-high volume Ecommerce shippers. It also accelerates Pitney Bowes Enterprise Shipping and Locker go-to-market strategy for the Retail and Pharmacy verticals.
“Shipping is a significant growth area for Pitney Bowes as our Shipping Index predicts volumes will double in the next five years. CrescoData’s state-of-the-art technology is a perfect complement to our SendPro shipping portfolio,” said Jason Dies, Senior Vice President and President, Sending Technology Solutions, Pitney Bowes. “Integrating CrescoData into the Pitney Bowes family allows us to better serve our clients with broader offerings and enhances our end-to-end solution capabilities.”
“Our team is delighted to be joining Pitney Bowes. This integration not only expands the offerings for Pitney Bowes, but allows us to pursue new clients backed by the strength of a trusted company with a long history of innovating,” said Anna Trybocka, founder of CrescoData. “To be part of a company squarely focused on the shipping opportunity and providing value for its clients creates exciting opportunities for growth.”
About Pitney Bowes
Pitney Bowes (NYSE:PBI)is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For additional information, visit Pitney Bowes at www.pitneybowes.com.
What is the significance of Pitney Bowes' acquisition of CrescoData?
The acquisition enhances Pitney Bowes' ecommerce offerings and strengthens its shipping solutions, particularly in the Retail and Pharmacy verticals.
How will the acquisition of CrescoData affect Pitney Bowes' shipping strategy?
The integration of CrescoData is expected to accelerate Pitney Bowes' go-to-market strategy and improve its end-to-end shipping capabilities.
What are the expected benefits of CrescoData's technology for Pitney Bowes?
CrescoData’s platform will streamline integration across multiple commerce channels, optimizing product and order management for Pitney Bowes' clients.
Is there any financial information about the acquisition of CrescoData by Pitney Bowes?
The financial terms of the acquisition were not disclosed in the press release.
When did Pitney Bowes announce the acquisition of CrescoData?
The acquisition was announced in a press release dated today.
