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  "documentTitle": "Hestia Pitney Bowes Presentation April 2023",
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  "notes": "Includes a screenshot of a press release as evidence of the missed opportunity.",
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      "kind": "callout",
      "text": "THE OPPORTUNITY: We believe there are numerous opportunities to drive profitable growth in the shipping label business, which could help mitigate anticipated future declines in the postage meter business.",
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      "text": "Thoma Bravo Completes Acquisition of Stamps.com",
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      "text": "Pitney Bowes has failed to meaningfully participate in the consolidation of the shipping label industry. This misstep has allowed Auctane LLC to gain market share. These businesses were strategic fits. This was the underpinning of Thoma Bravo's $6.6B acquisition.",
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