In an effort to streamline operations and raise funds, Pitney Bowes sold its North American management services business, which represented 19% of its revenue, to Apollo Global Management for $400 million in cash. Pitney Bowes has also entered into an agreement with Swiss Post Solutions to divest its U.K.-based management services business. My fellow Fool Sean Williams notes that the company also plans to use the proceeds from these transactions to maintain its still-high dividend yield without cutting research funding for its cloud-based logistics software efforts.