RR Donnelley has signed a definitive agreement to acquire shareholder and communications company Bowne & Co. for $481 million in cash in the second half of the year. The deal will be accretive to RR Donnelley’s earnings in 2011.

Bowne offers digital one-to-one printing services for financial services, healthcare, transactional communications, marketing communications and other applications. Its 2009 revenues were $675 million.

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