Global-e has completed its acquisition of Borderfree, a cross-border e-commerce business owned by Pitney Bowes. The company paid $100 million in cash for the business, which helps retailers enter new global markets by localizing their websites.
Borderfree operates in more than 200 countries and territories, helping e-commerce businesses simplify compliance and regulations processing when shipping out of country. It enables orders to be placed in 75 different currencies.
“We are excited to welcome Borderfree’s dedicated team into the Global-e family and look forward to extending current Borderfree clients’ access to Global-e’s know-how and capabilities,” said Nir Debbi, president and co-founder of Global-e (NASDAQ: GLBE). “This acquisition follows our strategy of continuously enhancing the value we bring to global brands looking to fully capitalize on their cross-border D2C channel. Furthermore, it further solidifies our leadership as the end-to-end solution of choice for any size of merchant, from small and emerging brands all the way to the world’s largest brands.”
The deal was first announced on June 21. As part of the deal, Pitney Bowes will continue to market the Borderfree suite of offerings to its global e-commerce customers.
“This partnership will open up new opportunities in the growing cross-border logistics and e-commerce space for both Pitney Bowes and Global-e,” said Gregg Zegras, executive vice president and president of global e-commerce for Pitney Bowes (NYSE: PBI). “We look forward to continuing to provide e-commerce logistics services to Borderfree clients and expect to start shipping for Global-e clients in the third quarter. Clients will benefit from the combination of Global-e’s best-in-class cross-border localization technology and best-in-class e-commerce logistics capabilities from Pitney Bowes.”
Global-e was founded in 2013 by Amir Schlachet. The company offers online shoppers localized experiences, regardless of where the brand they are exploring is located. This includes streamlined international logistics options and local tax and customs duties collection. Its platform supports more than 30 languages.