STAMPS.COM ACQUIRES ISHIP.COM TO CREATE ONE-STOP INTERNET MAILING AND SHIPPING SERVICE: Goal Is To Give Businesses, Consumers Single Source For Mailing And Shipping Needs.
The deal combines iShip.com's Web-based multi-carrier shipping technology with Stamps.com's core Internet Postage service, providing customers one-stop access to mailing, shipping and tracking services, as well as label printing for such leading parcel carriers as the Postal Service and UPS.
The combined company will also enable carriers to reach new customers. iShip.com's investors and strategic partners include Mail Boxes Etc., eBay, Intel, venture capital firm Draper Fisher Jurvetson and UPS.
Stamps.com will issue eight million shares of its common stock for iShip.com in a deal valued at $300 million.
"This acquisition will revolutionize the way mailing and shipping services are offered," predicts Stamps.com CEO John Payne. "Eighty- five percent of all e-commerce packages are shipped through the US Postal Service and UPS. Anchored by Stamps.com's strong relationship with the Postal Service and iShip.com's historic relationship with UPS, our new combined company is positioned to take advantage of the rise in e-commerce shipments."
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|Comment:||STAMPS.COM ACQUIRES ISHIP.COM TO CREATE ONE-STOP INTERNET MAILING AND SHIPPING SERVICE: Goal Is To Give Businesses, Consumers Single Source For Mailing And Shipping Needs.|
|Publication:||EDP Weekly's IT Monitor|
|Article Type:||Brief Article|
|Date:||Nov 1, 1999|
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