Stamps.com Acquires ShipStation for $50 Million Cash Plus Shares
Stamps.com purchased ShipStation for $50 million in cash plus up to 768,900 shares of Stamps.com stock, linked to performance. Stamps.com plans for ShipStation to operate as an independent, wholly-owned subsidiary, led by the existing management team.
"The acquisition of ShipStation represents a significant strategic investment in our high volume and e-commerce shipping business," said Ken McBride, Stamps.com chairman and CEO. "E-commerce driven package shipping is the fastest growing segment within the mailing and shipping space and this acquisition will allow us to accelerate our growth in this area."
"We're very excited to become a part of Stamps.com," said Nathan Jones, ShipStation President and CEO. "The acquisition builds on the strong partnership we have developed and we look forward to continuing to build the ShipStation business with the support of the Stamps.com team."
ShipStation supports automatic order importing from over 40 shopping carts and marketplaces, including eBay, Amazon, Shopify, Bigcommerce, Volusion, and Squarespace. Stamps.com provides USPS postage online to over 500,000 customers.