DutyCalculator Acquired by Borderfree

Online import duty and regulations database Duty Calculator has been acquired by cross-border ecommerce solutions provider Borderfree for $22 million in cash.

DutyCalculator will continue to provide its product classification and tariff calculation service covering nearly 100 countries, while integrating its technology into the Borderfree platform.

"This is a major strategic win for Borderfree on multiple fronts," said Michael DeSimone, CEO of Borderfree. "DutyCalculator accelerates our strategy to expand our presence in the European global ecommerce space, enhance our platform and data services capabilities and help our customers grow their global businesses."

DutyCalculator is located in Brighton, England, and its customers are primarily outside the U.S. It will continue under the leadership of founder and CEO Andre Schmidt, who will take on a wider role leading Borderfree's efforts in data services and marketplace strategies.

"Borderfree and DutyCalculator share the same vision for the growth of global ecommerce, and we're excited to integrate our technology and product capabilities with Borderfree's market-leading platform to deliver a broad range of ecommerce solutions to international customers," says Mr. Schmidt.

Borderfree provides technology and services to help brand names sell globally, including website localization, multi-currency pricing, payment processing, fraud management, landed cost calculation, customs clearance and global logistics services.

Source: Duty Calculator and Borderfree

Tagged: Acquisitions
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