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  "documentTitle": "Hestia Pitney Bowes Presentation April 2023",
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  "presentationDate": "2023-04-01 00:00:00",
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      "kind": "callout",
      "text": "We believe Pitney Bowes must pursue tuck-in acquisitions that will help build SendTech into a meaningful player in the shipping label market.",
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      "text": "Auctane (f/k/a Stamps.com) Annual Growth",
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      "text": "In order to grow SendTech's presence in the shipping label space, which is currently highly fragmented, the Company should explore the acquisition of an asset-light, postage label software solution. This approach was proven successful by Auctane, one of the dominant players in the market. An acquisition of a strong shipping label business with advanced software technology would accelerate growth and synergies of the existing SendTech businesses. We have identified a number of acquisition candidates in the sub-$20 million range that would provide a robust solution for Pitney Bowes as a volume seller.",
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      "kind": "source-note",
      "text": "Source: SEC filings; Hestia analysis. *Last year as a public company",
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      "text": "Pitney Bowes can grow its SendTech segment in the shipping label space through a targeted acquisition.",
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      "text": "Pillar #3: Drive Profitable Growth in SendTech (Cont.)",
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