- Software investment firm Thoma Bravo inked an agreement to acquire e-commerce shipping solutions provider Stamps.com Inc STMP in an all-cash transaction valued at $6.6 billion.
- Stamps.com stockholders will receive $330 per share in cash, representing a 67% premium to Stamps.com's closing share price on July 8, the last trading day before the deal announcement.
- Stamps.com will become a private company under the arrangement.
- Stamps.com can continue innovating and pursuing growth opportunities to capture the expanding e-commerce shipping market with Thoma Bravo's financial and operational support, Stamps.com's Chairman and CEO Ken McBride stated.
- Stamps.com's board had unanimously approved the agreement.
- Price action: STMP shares traded higher by 64.6% at $325.5 in the premarket session on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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