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To Our Valued Customers: On March 15, 2007, Pitney Bowes announced that it has entered into a merger agreement to acquire MapInfo Corporation. I firmly believe, as does our management team and Board of Directors, that this is the right move, at the right time, with the right partner – Pitney Bowes. This is all about creating a better future for our customers, our employees, and our partners. For MapInfo, it will always be about Customer First. This is first among our core values and is a priority shared by Pitney Bowes. Even though we've just made the announcement, the merger is expected to close in the next two months. Upon closing, it is anticipated that MapInfo will operate as a wholly owned subsidiary of Pitney Bowes within its software segment. As a combined entity, we will be delivering better products and services. In the interim, this merger will not affect your relationship with MapInfo or MapInfo's Business Partners. Our current offerings will continue to be supported. Your MapInfo and Partner contacts will all remain the same. They will be contacting you with new information as available.
We sincerely appreciate your business. I will continue to lead MapInfo and will personally ensure our unwavering commitment to your continued success. Kind regards,
Mark Cattini
President and Chief Executive Officer
Some commentry on this letter. - I received the e-mail on Monday, 19/3. The deal was announced last Thursday, 15/3. I know these things are complex, but we suspected management was pretty out of the loop and maybe didn't get a heads up to get this out earlier?
- The deal is referred to as a "merger" not an acquisition. Business people tell me that's normal.
- The e-mail confirms the customer focus: "For MapInfo, it will always be about Customer First." That didn't come up with such force in our conversations with Pitney Bowes and MapInfo execs, especially when I asked about support/plans for non-business users, like those in government.
- And, it's business as usual. Business people tell me that's what they all say, at least at first. Then there's change! |
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