Pitney Bowes sells financing division


18 July 2006 – Stamfod (CT): Pitney Bowes has completed the sale of its capital services external financing business to focus on its postal services. 
Pitney Bowes chairman and CEO, Michael Critelli, said: "The sale of the capital services business is an important milestone for Pitney Bowes customers and shareholders." He continued: "It enhances our focus on helping businesses and postal services around the world to leverage the mailstream to add value for their customers. The completion of this transaction also gives shareholders a clearer view of the underlying strength and growth of our business." 
The business has been sold to an affiliate of Cerberus Capital Management and will operate under the name of EntreCap Financial Corporation.