Pitney Bowes buys Firstlogic

today announced that it has signed a definitive agreement to acquire all of the remaining outstanding shares of La Crosse, Wisconsin-based

for approximately $50.3 million.

Pitney Bowes currently has 10 percent equity ownership of this privately held company, which develops and markets software and services that improve operations in data quality, mailing efficiency, and postal automation. The company generated over $55 million in revenue in 2004.

Upon completion of this transaction, Firstlogic will become a wholly-owned subsidiary of Pitney Bowes within Document Messaging Technologies.

Subject to regulatory approval and completion of other customary conditions, the transaction is expected to close in the third calendar quarter of 2005.