The acquisition is expected to strengthen Global-e’s platform offering for enterprise brands. Global-e and Pitney Bowes will also form a cross-border partnership to offer additional services to ecommerce brands.
Global-e the world’s leading cross-border end-to-end platform for brands and retailers, announced that it has entered into a definitive agreement with Pitney Bowes (NYSE: PBI) to acquire the global shipping and mailing company’s Borderfree cross-border ecommerce solutions business. Borderfree helps retailers enter new global markets by localizing their domestic website in 200+ countries and territories, simplifying compliance and regulations processing.
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In addition, the companies will begin a strategic partnership and commercial relationship whereby Pitney Bowes will provide cross-border ecommerce logistics services to Global-e and its clients. In turn, Pitney Bowes clients will receive access to best-in-class cross-border solutions on the Global-e platform. The acquisition and partnership are expected to strengthen Global-e’s offering and solutions for large enterprises. Both businesses will benefit from the combination of unique capabilities that will attract marquee retailers from around the world.
Leveraging Borderfree’s capabilities, Global-e will provide merchants with a best-in-class solution of global demand generation. Current Borderfree clients will gain access to Global-e’s leading platform localization capabilities, in combination with Global-e’s unique data models and AI-algorithms for conversion optimization.
“This acquisition follows our strategy to support the global expansion of brands of all sizes in the most sophisticated way possible,” said Nir Debbi, President and Co-founder of Global-e. “By partnering with Pitney Bowes and utilizing Borderfree’s demand generation capabilities, Global-e will continue to enhance the value it brings to global brands looking to fully capitalize on their cross-border D2C channel. In addition, the acquisition will further cement our leadership as the end-to-end solution of choice for any size of merchant, from small and emerging brands all the way to the world’s largest enterprise brands.”
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“Pitney Bowes is excited to form a strategic partnership with Global-e to further extend our suite of Designed™ Cross-Border services as Pitney Bowes continues to grow and invest in our advanced suite of ecommerce logistics services for delivery and returns,” said Gregg Zegras, Executive Vice President and President of Global Ecommerce, Pitney Bowes. “Merchants will benefit from the combination of Global-e’s best-in-class cross-border localization technology and best-in-class ecommerce logistics capabilities from Pitney Bowes, a strength we will continue to build globally.”
“Borderfree shares our values and aspirations to help brands become global,” said Amir Schlachet, CEO and Co-founder of Global-e. “We are delighted to welcome the Borderfree team into the Global-e family and are excited about the opportunity to partner with Pitney Bowes.”
Global-e will acquire Borderfree for approximately $100 million, financed with cash. Borderfree is expected to generate in excess of $40 million in revenues in calendar year 2022. The transaction is expected to close during Q3 2022, subject to customary conditions.
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