Stamps.com (STMP) to Acquire ShippingEasy
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Stamps.com® (NASDAQ: STMP) today announced it has entered into a definitive agreement to acquire ShippingEasy, Inc., an Austin, Texas based company that offers web-based multi-carrier shipping software that allows online retailers and e-commerce merchants to organize, process, fulfill and ship their orders quickly and easily.
ShippingEasy's solution features integrations with more than 40 leading marketplaces, shopping carts, and e-commerce platforms, allowing its customers to import and export fulfillment and tracking data in real time across all of their selling channels. ShippingEasy currently has integrations with eBay, PayPal, Amazon, Shopify, Bigcommerce, Magento, Volusion, Jane.com and many others. ShippingEasy's solution downloads orders from all selling channels and automatically maps custom shipping preferences, rates and delivery options across all of its supported carriers. ShippingEasy's easy-to-use solution also includes complimentary access to shipping specialists, helping merchants to streamline workflow and save on shipping costs.
"The acquisition of ShippingEasy represents a significant strategic investment in our e-commerce shipping business," said Ken McBride, Stamps.com chairman and CEO. "E-commerce driven package shipping is our fastest growing segment and this acquisition will allow us to continue to accelerate our growth in this area. ShippingEasy adds an outstanding solution to our portfolio of products which will allow us to serve the needs of more customers, and will allow us to continue to solidify our leadership in e-commerce shipping."
"We're very excited to become a part of Stamps.com," said Katie May, ShippingEasy CEO. "The acquisition builds on the strong partnership we have developed and we look forward to continuing to build the ShippingEasy business with the support of the Stamps.com team."
Stamps.com has agreed to purchase ShippingEasy for $55 million in cash which will be funded from current cash balances. In addition, performance linked equity awards will be made to key members of management that could result in the issuance of a maximum of approximately 87 thousand shares of Stamps.com common stock if performance targets are met. The transaction is expected to close in early July, subject to standard closing conditions. Stamps.com plans for ShippingEasy to operate as a wholly-owned subsidiary led by its existing management team.
More information about ShippingEasy can be obtained by visiting http://www.shippingeasy.com.
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