Global-e Online Buying Pitney Bowes' Borderfree Ecommerce Business

By Chris Wack

Global-e Online Ltd. said it is buying Pitney Bowes' Borderfree cross-border ecommerce solutions business for $100 million.

The companies will also begin a strategic partnership and commercial relationship, with Pitney Bowes providing cross-border ecommerce logistics services to Global-e and its clients, Global-e said. In turn, Pitney Bowes clients will receive access to cross-border technology on the Global-e platform.

Borderfree helps retailers enter new global markets by localizing their domestic website in more than 200 countries and territories, simplifying compliance and regulations processing.

Global-e said the acquisition will be financed with cash, and Borderfree is expected to generate more than $40 million in revenue in calendar year 2022.

The transaction is expected to close during the third quarter of 2022, the company said.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

June 21, 2022 07:08 ET (11:08 GMT)

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