Stamps.com has announced that it has entered into a definitive agreement to purchase MetaPack Ltd., the United Kingdom-based company that will be familiar to many Tamebay readers and UK merchants.
Stamps.com has agreed to purchase the service for approximately £175 million in cash, which is approximately $230 million, funded entirely from current cash balances. The Boards of Directors of both companies have approved the transaction, which is expected to close during August 2018. Stamps.com plans for MetaPack to continue to operate it as a wholly-owned subsidiary led by members of its existing management team.
MetaPack provides multi-carrier enterprise-level solution and offers its customers access to the world’s largest carrier library with support for over 450 parcel carriers that operate in more than 200 countries. The software platform processed over 550 million parcel shipments in 2017.
MetaPack’s platform also provides carrier management, a carrier optimization engine, a track and trace system, a parcel returns system, a delivery analysis and carrier SLA monitoring system, a sophisticated cross-border solution, and a system that provides dynamic delivery options right in the shopping cart.
MetaPack is reported to have over 500 customers, including many of the world’s leading ecommerce retailers and it generated revenue of approximately £36 million in its fiscal year ending March 31, 2018, with a gross margin of approximately 87% and an operating margin of approximately 10%. The have approximately 350 employees located in six office locations around the world.
The acquisition of MetaPack represents a significant strategic investment in our global e-commerce shipping business. MetaPack is the leading enterprise-level multi-carrier e-commerce software platform supporting the world’s largest retailers and the world’s best known brands. MetaPack has significant business in Europe, complementing Stamps.com’s strong position in the U.S. 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.
– Ken McBride, chairman and CEO, Stamps.com