- Pitney Bowes (NYSE:PBI) +9.4% pre-market after saying it agreed to sell its Software Solutions business to Syncsort for $700M in cash.
- PBI says it plans to use most of the net proceeds from the sale to pay down near-term debt maturities.
- PBI also updates full-year guidance, now forecasting adjusted EPS of $0.65-$0.75 on revenue growth of 1%-2% when compared to recast 2018 revenue, and free cash flow of $175M-$205M.
Pitney Bowes sells software solutions unit for $700M
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