STAMPS.COM ACQUIRES E-COMMERCE SOFTWARE COMPANY SHIPWORKS
EL SEGUNDO, Calif. – October 20, 2014 – Stamps.com® (Nasdaq:STMP), the leading provider of USPS postage online to over 500,000 customers, today announced the acquisition of ShipWorks®, based in St. Louis, Missouri, which offers monthly subscription based e-commerce shipping software.
ShipWorks is a leading client-based shipping software company that provides simple, powerful and easy to use solutions for online sellers. ShipWorks solutions integrate with over 50 popular online sales and marketplace systems including eBay, PayPal, Amazon, Yahoo! and others. ShipWorks offers multi-carrier shipping options and features including sending email notifications to buyers, updating online order status, generating reports and many more.
“The acquisition of ShipWorks represents another 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 a very attractive segment within the mailing and shipping space and this acquisition further leverages our ability to accelerate our growth in this area.”
“We’re very excited to become a part of Stamps.com,” said Wes Clayton, ShipWorks Co-General Manager and COO. “We’ve long enjoyed a strong partnership with Stamps.com and with the acquisition we look forward to continuing to build the ShipWorks business with the support of the Stamps.com team.”
“The Stamps.com acquisition represents a great opportunity for the ShipWorks team and our customers,” said Brian Nottingham, ShipWorks Co-General Manager and CTO. “We’ve built a great company and believe that we can leverage that success into even better products and services for our customers working alongside the Stamps.com team.”
Stamps.com purchased ShipWorks for approximately $22 million in cash. Stamps.com plans for ShipWorks to operate as an independent, wholly-owned subsidiary, led by the existing management team.
More information about ShipWorks can be obtained by visiting http://www.shipworks.com.
Stamps.com (Nasdaq:STMP) is the leading provider of Internet-based postage services to nearly 500,000 customers. Stamps.com’s service enables customers to print U.S. Postal Service-approved postage with just a computer, printer and Internet connection, right from their homes or offices. The company has been the leader in transforming the world of mailing and shipping for small business owners, e-commerce sellers, high volume shippers, and enterprise organizations alike.
ShipWorks is a leading client-based shipping software solution that allows online retailers and e-commerce merchants to organize, process, fulfill and ship their orders quickly and easily. ShipWorks is integrated with over 50 selling platforms, including eBay, PayPal, Amazon, Yahoo! and others.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements about our anticipated results that involve risks and uncertainties. Important factors, including the Company’s ability to complete and ship its products, maintain desirable economics for its products and obtain or maintain regulatory approval, 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 year ended December 31, 2013, Quarterly Reports on Form 10-Q, and 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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