Staff of Reuters Read for 1 minute (Adds details of the deal, share movement, background) Reuters, July 9 – Stamps.com said on Friday that private equity firm Thoma Bravo would buy the e-commerce shipping solutions provider for roughly $6 billion in cash, driving the company’s stock up over 14% in premarket trade. According to the agreement, Stamps.com stockholders will get $330 per share, marking a 67 percent premium over the company’s closing price on Thursday. The acquisition is worth around $6.6 billion, including debt, and is anticipated to finalize in the third quarter of this year. With approximately $78 billion in assets under management, Thoma Bravo is one of the largest software-focused private equity firms. SolarWinds Corp, a provider of information technology services, and McAfee Corp, a cybersecurity firm, are among its portfolio firms. According to Stamps.com, the deal also includes a 40-day “go-shop” period, which will allow the corporation to evaluate competing bids. In early trading, the company’s shares were trading at $226.36. Akanksha Rana contributed reporting from Bengaluru, while Shounak Dasgupta and Aditya Soni edited the piece./n
Read More
