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Stamps.com, an online postage and shipping solution based in El Segundo and serving more than 500,000 customers, has acquired ShipWorks, an e-commerce shipping company based in St. Louis.
The deal cost Stamps.com $22 million in cash. The two companies already share several high-profile clients, and the acquisition allows Stamps.com to provide them with new one-stop services. ShipWorks will now function as an independent entity within Stamps.com, and will keep its existing management team.
Wes Clayton, COO and co-general manager at ShipWorks, said the acquisition did not come as a surprise to his company. "We're very excited to become a part of Stamps.com," said Clayton. "We've long enjoyed a strong partnership with Stamps.com, and with the acquisition we look forward to continuing to build the ShipWorks business with the support of the Stamps.com team."
[ibimage==33721==Medium==none==self==ibimage_align-left]In the '90s, during the original dot-com boom, Stamps.com distinguished itself by allowing customers to print postage at home, and has since established relationships with high-volume shippers, small businesses, and independent e-commerce sellers. Its purchase of ShipWorks and expansion into the still-buzzing e-commerce sphere are signs that, after all this time, its simple idea can fuel continued growth.
"The acquisition of ShipWorks represents another strategic investment in our high volume and e-commerce shipping business," said Ken McBride, Stamps.com chairman and CEO, in a statement. "E-commerce driven package shipping is a very attractive segment within the mailing and shipping space and this acquisition further leverages our ability to accelerate our growth in this area."
