Stamps.com buys MetaPack for £175m
Stamps.com Inc., the provider of postage online and shipping software solutions, has agreed to buy the e-commerce delivery platform MetaPack for around £175m.
Following the sale, MetaPack will operate as a wholly owned subsidiary of Stamps.com.
Stamps.com has been focused on the development of its core US-based market; but with the purchase of MetaPack, the company says its strategy will be expanded to maximise MetaPack’s international footprint.
The companies believe that the mix of the Stamps.com postage online and shipping software products in the SME market and MetaPack’s platform in the retail enterprise space will be “highly complementary” and result in “a wide number of cooperative opportunities”.
In the short term, Stamps.com expects MetaPack to operate autonomously with day to day operations continuing as normal, and no changes to the management team.
In a statement sent to Post&Parcel today (25 July), Steve Rowley, Executive Chairman of MetaPack, said: “This is a hugely exciting development for MetaPack. The acquisition by Stamps.com is highly complementary and enables us to broaden our proposition and enhance our global label library. It gives us the degree of scale and support that we need to service global e-commerce customers. The transaction is testament to the entire team at MetaPack who have demonstrated outstanding loyalty and hard work, particularly in driving European growth and helping us return the business to profitability. Their skills were a crucial element in this acquisition.”
Patrick Wall, MetaPack Founder commented: “We’re very proud to become part of the wider Stamps.com group and in so doing, offer our customers continuity, greater product depth and an even stronger global proposition. e-commerce will continue to drive huge change in retailing and MetaPack is now best positioned to meet market needs all over the world. I’ve no doubt the best years are still to come.”
Ken McBride, Stamps.com chairman and CEO, added: “Metapack has significant business in Europe, complementing Stamps.com’s strong position in the US. Metapack also serves the largest enterprises and retailers, complementing Stamps.com’s traditional focus on smaller businesses. Together, the two companies will be better able to provide innovative solutions in an increasingly global e-commerce world to customers of all sizes and in all geographies.”
