Stamps.com, a US-based provider of e-commerce shipping solutions, has entered into a definitive agreement to be acquired by Thoma Bravo, a software investment firm, in an all-cash transaction that values Stamps.com at approximately US$6.6bn.
Under the terms of the agreement, Stamps.com stockholders will receive US$330.00 per share in cash, representing a premium of 67% over the company’s closing share price on July 8, 2021, the last full trading day prior to the transaction announcement. The premium is 71% over the company’s three-month volume-weighted average closing share price through July 8, 2021.
Upon completion of the transaction, Stamps.com will become a private company and says it will have the flexibility and resources to continue to provide global e-commerce technology solutions. Additionally, it hopes it will benefit from the operating capabilities, capital support and deep sector expertise of Thoma Bravo – one of the most experienced and successful software and technology investors in the world.
“Today’s announcement marks a significant milestone in the history of Stamps.com and will provide us with a new and exciting platform from which we can continue to execute our global strategy driven by best-in-class software and technology solutions,” said Ken McBride, Stamps.com’s chairman and CEO. “With the financial and operational support of Thoma Bravo, Stamps.com can continue to innovate and pursue growth opportunities to capture the expanding e-commerce shipping market and extend our position as the leading global multi-carrier e-commerce shipping software company. This transaction is a testament to the excellence and hard work of all of our employees and their relentless dedication to our customers and partners throughout the world.”
“As the first company to introduce online postage and an early innovator in e-commerce shipping software, Stamps.com has established itself as a key technology solution in worldwide e-commerce,” added Holden Spaht, a managing partner at Thoma Bravo. “With a highly seasoned management team that has driven impressive growth for more than 20 years, an innovative suite of market-leading software solutions, and a large and growing customer base, Stamps.com is well positioned to capitalize on the strong secular tailwinds in e-commerce and we are excited to support the company in its next chapter of growth.”