Funds affiliated with Apollo Global Management LLC (NYSE: APO) are buying Pitney Bowes Management Services for $400 million in cash.
Pitney Bowes Inc. (NYSE: PBI) owns Pitney Bowes Management. The company provides technologies services for companies to help them connect with customers. The services include direct mail, call center communications, email and mobile applications. The company also provides postage meters, tracking software and other services.