Pitney Bowes Sells Imagitas Unit to Red Ventures for $310 Million

NEW YORK ( TheDeal) -- Pitney Bowes  (PBI) has inked a deal to sell its Imagitas marketing services subsidiary to private equity-backed Red Ventures for $310 million, representing the latest step in the technology company's multi-year turnaround strategy.

The transaction is all cash and is expected to close during the second quarter, the companies said Monday.

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