Online postage and shipping software provider Stamps.com Inc. said Wednesday it has paid $230 million to acquire the British e-commerce delivery technology vendor MetaPack in a move to launch an international expansion from its traditional U.S.-based core market.
Following the sale, MetaPack will operate as a wholly owned subsidiary of El Segundo, Calif.,-based Stamps.com, with no changes planned in the short term to the company's autonomy or its management team, according to Stamps.com. However, in the longer term, Stamps.com plans to invest in MetaPack's platform to continue developing its products, Stamps.com said.
The boards of directors of both companies have approved the transaction, which is expected to close during August 2018.
Being acquired by Stamps.com will allow MetaPack to broaden its product portfolio, enhance its global label library, and gain the scale to serve global e-commerce customers, MetaPack Executive Chairman Steve Rowley said in a statement.
In turn, the move "represents a significant strategic investment in our global e-commerce shipping business," Stamps.com chairman and CEO Ken McBride said in a statement. MetaPack's enterprise-level, multi-carrier, e-commerce software platform supports international brands and retailers with a European footprint that will complement Stamps.com's U.S. core market and its traditional focus on smaller businesses, McBride said.
In announcing the deal, Stamps.com cited MetaPack's ability to provide access to a large carrier library with support for over 450 parcel carriers that operate in more than 200 countries. MetaPack's platform also provides features such as: carrier management, a carrier optimization engine, a track and trace system, a parcel returns system, a delivery analysis and carrier SLA monitoring system, a cross-border solution, and dynamic delivery options for shoppers, Stamps.com said.
The acquisition follows Stamps.com's 2015 purchase of the electronic postage software firm Endicia for $215 million in a move that was intended to dovetail shipping and mailing softwareinto users' existing warehouse workflow.