Stamps.com Inc. (STMP) acquires e-commerce software company ShipStation for $50 million
Stamps.com Inc. (NASDAQ:STMP) is known for selling USPS postage online to over 500,000 customers. The company has announced that it has acquired Austin, Texas based ShipStation. ShipStation offers monthly subscription based e-commerce shipping software under the brand names ShipStation and Auctane.
“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.”
ShipStation is a web-based shipping software solution that allows online retailers and e-commerce merchants to organize, process, fulfill, and ship orders quickly and easily.
ShipStation supports automatic order importing from over 40 shopping carts and marketplaces, including Amazon.com, Shopify, eBay, Squarespace, etc. ShipStation offers multi-carrier shipping options and automation features.
“We’re very excited to become a part of Stamps.com,” added 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.”
Stamps.com bought ShipStation for up-front consideration of $50 million in cash plus an earn-out consideration of up to 768,900 shares of Stamps.com common stock based on performance. ShipStation will operate as an independent and wholly-owned subsidiary.