Israeli fintech company Global-e Online Ltd has agreed to acquire the cross-border e-commerce business of shipping and mailing firm Pitney Bowes for $100 million.
Nasdaq-listed Global-e said it has entered into a definitive agreement to acquire Pitney’s Borderfree, which helps retailers enter new markets by helping localise their websites and by simplifying the compliance and regulation process.
As part of the deal, Global-e and Pitney Bowes will enter into a strategic partnership that will see the latter provide the former with cross-border e-commerce logistics services and its clients. In turn, Pitney Bowes’ clients will get similar services on Global-e’s platform.
This is the second company that Global-e has acquired in less than a year. In November last year it had bought US-based Flow Commerce, which provides technology-based cross-border e-commerce software solutions for emerging brands, for $500 million.
Global-e said Borderfree is expected to generate in excess of $40 million in revenue in calendar year 2022.
“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,” Debbi said.