Stamford-Based Pitney Bowes To Sell Part Of Cross-Border E-Commerce Business

STAMFORD, CT — Pitney Bowes, a global shipping and mailing company headquartered in Stamford, announced this week that it has entered into an agreement to sell its Borderfree cross-border e-commerce solutions business for $100 million to Global-e, an e-commerce services provider based in Israel.

Borderfree helps retailers enter new global markets by localizing their domestic website in 200-plus countries and territories, which simplifies compliance and regulations processing.

"This acquisition follows our strategy to support the global expansion of brands of all sizes in the most sophisticated way possible," said Global-e President and co-founder Nir Debbi in a news release.

Borderfree is expected to generate in excess of $40 million in 2022, according to the announcement. The transaction is expected to close during the third quarter this year, subject to customary conditions.

Additionally, the two companies will begin a strategic partnership and commercial relationship, in which Pitney Bowes will provide cross-border e-commerce logistics services to Global-e.

As a result, Pitney Bowes clients will receive access to cross-border solutions on the Global-e platform.

"Pitney Bowes is excited to form a strategic partnership with Global-e to further extend our suite of Designed Cross-Border services as Pitney Bowes continues to grow and invest in our advanced suite of ecommerce logistics services for delivery and returns," said Pitney Bowes Executive Vice President and President of Global EcommerceGregg Zegras, in a news release.

"Merchants will benefit from the combination of Global-e’s best-in-class cross-border localization technology and best-in-class ecommerce logistics capabilities from Pitney Bowes, a strength we will continue to build globally," Zegras added.