Pitney Bowes To Acquire Group 1Software

LANHAM, Md. - (04/15/04) -- Group 1 Software, the provider ofdata warehousing and direct marketing software, said it has agreedto be acquired by Pitney Bowes Inc. for $23 a share, or a total of$380 million. Group 1, which has 600 employees, will retain itsname and operations in the Washington, D.C., suburb here. The dealcomes about a year after Group 1 acquired Sagent Corp., theMountain View, Calif., maker of data warehousingsoftware.