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La Crosse, Wis. -
Firstlogic, Inc., a global provider of enterprise information quality solutions, and Pitney Bowes, Inc.
, a mail and document management solutions company based in Connecticut, have verbally agreed not to extend their merger agreement when it expires November 15, concluding Pitney's planned acquisition of Firstlogic.
The merger agreement had previously been announced Sept 1. After a review of a Second Request for Information issued by the Federal Trade Commission, however, the two companies decided not to proceed with the acquisition.
"Although we are naturally disappointed in this result, we have also learned a great deal by going through this process that can make us a better company," said Firstlogic President Eric Lieberman.Click here to read WTN's past coverage of the planned Firstlogic/Pitney Bowes merger