Borderfree which was acquired by Pitney Bowes in 2015 is being acquired by Global-e for cUS$100 million and the two businessss will go on to form a strategic partnership. Pitney Bowes had itself acquired Borderfree which was originally founded by Canada Post, in May 2015 for c.US$395 million. This latest deal is expected to close in Q3.
Through the new partnership, Pitney Bowes will support Global-e clients with cross-border eCommerce logistics services with Pitney Bowes clients being able to access Global-e’s cross-border platform and tools.
“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, Global-e. Global-e says it expects Borderfree to generate around US$40 million in 2022.
Gregg Zegras, EVP and President of global eCommerce, Pitney Bowes commented: “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.”