According to Pitney Bowes Inc. of Stamford, the company has entered into an agreement to acquire CL Computers Pte Ltd and CL Computers (M) Sdn Bhd, including inventory, stock, equipment, customers and employees.
CL Computers, now a major supplier of electronic banking equipment, was founded in 1985 as a distributor for computer products. Pitney Bowes appointed the company as its distributor in Malaysia and Singapore in 1998, and CL Computers now has thousands of “mailstream” customers in the banking, insurance and logistics industries from offices in Singapore, Kuala Lumpur and other locations.
“This acquisition is consistent with our strategy to expand in the most promising international markets,” said Murray Martin president and CEO of Pitney Bowes in a prepared statement. “We already have direct presence in several key Asian countries, and we think both Malaysia and Singapore have untapped potential for mailstream hardware (to facilitate mail movement), software and customized solutions.”
The acquisition follows the recent official opening in Singapore of Pitney Bowes”™s regional headquarters for Asia-Pacific and Middle East operations, under the leadership of Eric-Yves Mahe president of Asia-Pacific Middle East operations. Mahe has publicly stated the company”™s desire to expand dramatically across the region, potentially doubling sales within the next five years.
“Mailstream technology has long delivered substantial value to large customers in North America and Europe,” said Mahe in a prepared statement. “With our strong base in developed markets such as Australia, New Zealand and Japan, we feel we are well positioned to deliver these same benefits to forward-thinking customers in emerging markets as well. The recent liberalization of the Singapore postal sector and the impending liberalization contemplated for the region also present strong opportunities for Pitney Bowes.”
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