Blog: Claudia Imhoff

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The Love Affair is Over - Pitney Bowes and FirstLogic Call Off the Acquisition

Last September 1, Pitney Bowes announced that it would acquire the remaining 95% of FirstLogic for $50 million. If you recall, I wrote in my blog that I thought it was not a particularly good deal for FirstLogic. Perhaps they agreed since the acquisition is now officially called off.

Here's the exclusive news...

A press release from Scott Humphrey will be aired today stating that FirstLogic and Pitney Bowes have verbally agreed NOT to extend their merger agreement when it expires November 15.

Eric Lieberman, the President of FirstLogic says, "After reviewing the second request for information issued by the Federal Trade Commission, we mutually decided that it was in the best interest of all involved not to proceed further with the acquisition."

I am sure that there is disappointment on both sides of the deal but I also think that FirstLogic is better off either on its own or looking for a better deal with another company. Good luck to FirstLogic with its new legs!

Yours in BI success,

Claudia

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