Ecommerce delivery technology company MetaPack has been bought by online postage and shipping software solutions Stamps.com in a £175 million deal.
The company will operate as a wholly owned subsidiary of Stamps.com which, before this deal was primarily focused on developing its core US-based market. Following the deal, it aims to expand to maximise MetaPack’s strong international footprint.
In the short term, MetaPack will carry on with business as usual with no changes to management planned. Longer term, the company expects to invest in the platform to continue developing MetaPack’s customer proposition.
“This is a hugely exciting development for MetaPack,” said Steve Rowley, executive chairman. “The acquisition by Stamps.com is highly complementary and enables us to broaden our proposition and enhance our global label library. It gives us the degree of scale and support that we need to service global e-commerce customers. The transaction is testament to the entire team at MetaPack who have demonstrated outstanding loyalty and hard work, particularly in driving European growth and helping us return the business to profitability. Their skills were a crucial element in this acquisition.”
Patrick Wall, MetaPack founder, said it was great news for customers, partners and employees. “We’re very proud to become part of the wider Stamps.com group and in so doing, offer our customers continuity, greater product depth and an even stronger global proposition. e-commerce will continue to drive huge change in retailing,” he said.
“The acquisition of MetaPack represents a significant strategic investment in our global e-commerce shipping business,” said Ken McBride, Stamps.com chairman and CEO. “MetaPack is the leading enterprise-level multi-carrier e-commerce software platform supporting the world’s largest retailers and the world’s best-known brands. MetaPack has significant business in Europe, complementing Stamps.com’s strong position in the US,” he said.
Image credit: MetaPack