The profile of the top customers of the companies are very different, with nearly all of 's top customers in the enterprise mailing area, and all of Endicia's top customers in the high volume shipping area.
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expects the companies to become more effective in competing against, for example, Pitney Bowes (which offers postage meters and shipping solutions), eBay (which offers a no-cost eCommerce shipping solution), and various free shipping software products available from a number of postal and private carriers.
Enhanced Competitiveness Against Large Companies.expects to combine and share the complementary expertise of both companies' customer support organizations in order to create a larger, more efficient, more knowledgeable, and more responsive combined support organization. expects the combined companies to utilize both the large scale customer acquisition resources of and the large national sales team of Endicia to most effectively market and sell both brands into their respective customer segments. By combining resources and sharing expertise, expects the two companies to streamline software development tasks that are duplicated across the two companies, freeing resources to accelerate innovation that will benefit customers, partners and the US Postal Service. Endicia acquires its customers with a large national sales team of more than sixty people and with marketing programs that are expressly targeted at high volume shippers.Ī summary of expected benefits of the acquisition include:
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Endicia focuses on professional high volume shippers by providing products that enable domestic and international shipping, and by collaborating with over 250 integration partners. spent approximately $40 million on customer acquisition during 2014, with the majority of that spend going into broad small business marketing programs. primarily focuses on acquiring small business and enterprise mailing customers, and it has approximately 514 thousand paid customers which are predominantly in those two areas. and Endicia are two rapidly growing providers of internet mailing and shipping solutions, but are focused on different segments of the market. Manatt, Phelps & Phillips, LLP acted as legal counsel to. intends to fund the transaction with at least $50 million of cash on hand and committed financing for $165 million from a group of leading US banks. No shareholder approval is required in this all cash transaction. The Boards of Directors of both companies have approved the transaction which is expected to close within 5 business days after the fulfillment of the customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Act.
Combined, the companies can enhance innovation and increase domestic and international shipping growth for the benefit of our customers and partners.” “The acquisition will pair Endicia's technology leadership in shipping and its large national sales team with ’s large scale small business customer acquisition. “We are very excited about the opportunity to become a part of ,” said Amine Khechfe, Endicia General Manager. Together, the two companies will be able to more effectively compete with the very large competitors we face today in the mailing and shipping industry.” High volume shipping is the fastest growing segment within the mailing and shipping space and this acquisition will allow us to accelerate our innovation, enhance and streamline our sales and marketing, and accelerate our growth. “Endicia is a great complement to ’s traditional strength in the enterprise and small business mailing segments. “The acquisition of Endicia represents a significant strategic investment in our high volume shipper business,” said Ken McBride, chairman and CEO. Endicia had approximately $59 million in revenue during fiscal 2014. Endicia also provides seamless access to USPS and other shipping services through integration with more than 250 partner applications. Endicia sells its products under brand names including Endicia ®, DYMO ® Stamps™ and PictureItPostage ®. Postal Service ® and other postal partners.Įndicia offers solutions that help businesses run their shipping operations more smoothly and function more successfully. Based in Palo Alto, California, Endicia is a leading provider of high volume shipping technologies and solutions for use with the U.S. for to acquire Endicia, a wholly owned subsidiary of Newell Rubbermaid, for $215 million in cash. STAMPS.COM ANNOUNCES INTENTION TO ACQUIRE ONLINE SHIPPING COMPANY ENDICIA FROM NEWELL RUBBERMAIDĮL SEGUNDO, CA - ® (Nasdaq:STMP) today announced that it has entered into a definitive agreement with Newell Rubbermaid Inc.
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