Globl-E Online Bolsters Platform Offering For Enterprise Brands - Read How - Pitney Bowes (NYSE:PBI), Global E Online (NASDAQ:GLBE)

Global-E Online Ltd GLBE has entered into a definitive agreement with Pitney Bowes Inc PBI to acquire Borderfree cross-border eCommerce solutions business for about $100 million in cash.
Borderfree helps retailers enter new global markets by localizing their domestic websites in 200+ countries and territories.
The acquisition is expected to strengthen Global-E's platform offering for enterprise brands.
The parties will also begin a commercial relationship under which Pitney Bowes will provide cross-border eCommerce logistics services to Global-E and its clients.
In turn, Pitney Bowes clients will receive access to cross-border solutions on the Global-E platform.
Borderfree is expected to generate more than $40 million in revenues in 2022.
GLBE expects the deal to close during the third quarter of 2022.
The company held $203.9 million in cash and equivalents as of March 31, 2022.
Price Action: GLBE shares are trading higher by 8.66% at $19.89 on the last check Tuesday.