Stamps.com set to complete Endicia acquisition

Stamps.com set to complete Endicia acquisition

Stamps.com has announced that it expects to close its acquisition of Endicia this month. As previously reported by Post&Parcel, Stamps.com entered into a definitive agreement with Newell Rubbermaid in March this year to buy Endicia for $215m.

In a statement issued yesterday (5 November), Stamps.com said it had received written notice from the United States Department of Justice that it had closed its investigation into the sale.  “As a result,” added Stamps.com, “the acquisition is expected to close November 18, 2015.”

Based in Mountain View, California, Endicia is a provider of high volume shipping technologies and solutions. Endicia had approximately $59m in revenue during fiscal 2014.

Stamps.com said that it expects to fund the acquisition with $165m in bank debt from a group of leading US banks and the remainder from its existing cash and investments.

 

 

 

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