UPS ACQUIRES ISHIP ASSETS FROM STAMPS.COM
Deal allows Stamps.com to concentrate on expansion of Internet-based postage services
UPS Acquires iShip Assets from Stamps.com
Deal allows Stamps.com to concentrate on expansion of Internet-based postage services
SANTA MONICA, Calif. – In a move to sharpen its business focus, the leader in Internet-based postage, Stamps.com Inc. (Nasdaq: STMP), announced today that its iShip multi-carrier shipping service assets have been acquired by United Parcel Service, Inc. (NYSE: UPS).
The transaction is part of a Stamps.com strategy announced last month to focus the company’s attention on its core mailing and shipping services for small business and home offices.
“There are tremendous growth opportunities in Internet-based postage, particularly among the more than 10 million small businesses in the United States,” said Stamps.com chief executive officer Bruce Coleman. “In order to solidify and strengthen our leadership position it is critical that the company be focused on marketing, developing, and supporting our Internet postage service offerings.”
Stamps.com currently serves more than 300,000 customers with its Internet-based postage service, and has launched an aggressive campaign to build on that base. In April, 2001, Stamps.com acquired the name and a portfolio of 31 predominantly Internet postage-related patents and trademarks of former competitor, E-Stamp Corporation. The company is also making a push into retail distribution channels.
About Stamps.com
Stamps.com (Nasdaq: STMP) is the leading provider of Internet-based postage services. Its flagship product, Stamps.com Internet Postage, enables customers to print U.S. Postal Service-approved postage via a computer and Internet connection. Based in Santa Monica, California, Stamps.com serves more than 300,000 customers. For more information contact Kathleen Brush at email: [email protected]
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“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements that involve risks and uncertainties. Important factors, including the company’s ability to achieve profitability, which could cause actual results to differ materially from those in the forward-looking statements, are detailed in filings with the Securities and Exchange Commission made from time to time by Stamps.com, including its annual report on Form 10-K for the fiscal year ended December 31, 2000, its quarterly report on Form 10-Q for the fiscal quarter ending March 31, 2001, and its Current Reports on Form 8-K. Stamps.com undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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