Gabelli, Gamco buy 6.28% stake in MapInfo

By Lisa Kerner

Charlotte, N.C., April 5 - Investors led by Gabelli Funds LLC and Gamco Asset Management LLC purchased 1,355,801 shares of MapInfo Corp., or 6.28% of the company's outstanding shares, between March 15 and March 29 priced from $19.95 to $20.18 per share.

The shares were purchased as an investment, according to a schedule 13D filing with the Securities and Exchange Commission.

On March 15, Pitney Bowes Inc. entered into a merger agreement to acquire MapInfo via a tender offer priced at $20.25 per share in a transaction valued at $408 million.

MapInfo, located in Troy, N.Y., provides location intelligence solutions.

Pitney Bowes is a provider of integrated mailstream management solutions based in Stamford, Conn.

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