Taylor Wessing advises Portrait Software on £44 million takeover

Taylor Wessing has advised the board of AIM listed Portrait Software plc on the recommended cash offer by Pitney Bowes MapInfo UK Limited, an indirect wholly owned subsidiary of NYSE listed Pitney Bowes, Inc.

Portrait Software develops and provides a suite of software products to optimise customer interactions for business-to-consumer enterprises. The Pitney Bowes Group offer values the entire issued and to be issued ordinary share capital of the company at approximately £44.4 million.

Lee Bagshaw led Taylor Wessing's Financial Institutions and Markets team advising Portrait Software, with assistance from Pascoe Simpson and Sarah Innes. Ann Casey and Anna Johnson advised on incentives, with James Meakin advising on tax.

Singer Capital Markets acted as financial adviser to Portrait Software.

Proskauer & Rose LLP represented Pitney Bowes as legal advisers with Morgan Stanley acting as financial advisers.

The Pitney Bowes Group provides mail processing equipment and integrated mail solutions in the United States and internationally, assisting organisations in managing the flow of information, mail, documents and packages.

Ends

Lawyers Lee Bagshaw, Pascoe Simpson, Ann Casey, Anna Humphrey, James Meakin

Notes to editors

For more information please contact Helen Needham at Taylor Wessing:

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Taylor Wessing LLP is a leading international law firm providing support for commercial organisations doing business in Europe, the Middle East and China.