Borderfree, a publicly traded company providing site localization, global logistics services and other solutions for eCommerce merchants that are expanding sales internationally, was acquired by global technology company Pitney Bowes for $395 million in early May.
Pitney Bowes provides a variety of services to enable commerce, customer data management, customer engagement and shipping for business of all types and across multiple channels. The company has more than 1.5 million clients worldwide and is continuing to expand their service offerings around the eCommerce channel. This includes cross-border shipping services and international shipping services offered to sellers through a partnership with eBay.
Borderfree, which helps merchants expand sales to new markets by facilitating multi-currency pricing and payment processing, website localization and international fraud management, was a natural fit for Pitney Bowes who is continuing to expand products and services for eCommerce and multi-channel merchants. Borderfree boasts many major retailer clients including Bloomingdales, Macy’s, Sephora, Neiman Marcus and more. The company earned $125 million in revenue last year.
President and CEO of Pitney Bowes, Marc B. Lautenbach, stated that this acquisition “not only makes sense for our clients, it accelerates our strategic vision to grow our company through expansion of our digital commerce businesses.” The two companies offered complimentary cross-border eCommerce solutions and by combining their capabilities Pitney Bowes seeks to further help clients by reducing the complexities of cross-border eCommerce.
Pitney Bowes is purchasing all of the outstanding common stock shares of Borderfree at $14 per share, or $395 million in total.
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