Cross-border end-to-end platform Global-e agreed to acquire Borderfree, a cross-border eCommerce solutions business, from Pitney Bowes, according to a Tuesday (June 21) joint press release, giving Global-e access to a service that helps retailers reach more than 200 countries with local websites.
The companies are also launching a strategic partnership: Pitney Bowes will provide cross-border eCommerce logistics services to Global-e and its clients, and Pitney Bowes’ clients will be able to utilize the Global-e platform for their cross-border needs.
Global-e will acquire Borderfree for approximately $100 million in a cash deal. Borderfree is expected to generate more than $40 million in revenue this year. The deal is expected to close during the third quarter of the year, subject to customary conditions.
“This acquisition follows our strategy to support the global expansion of brands of all sizes in the most sophisticated way possible,” said Nir Debbi, president and co-founder of Global-e, in the joint announcement.
“By partnering with Pitney Bowes and utilizing Borderfree’s demand generation capabilities, Global-e will continue to enhance the value it brings to global brands looking to fully capitalize on their cross-border D2C channel,” he said.
Through the collaboration, Global-e will be able to offer its merchants with increased global demand generation, and Borderfree clients will have access to Global-e’s platform localization capabilities, data models and artificial intelligence (AI) algorithms for conversion optimization.
Related: BlueSnap Gets License To Keep Helping Israeli Companies With Finances
In May, BlueSnap, which works in global payments and provides advanced payment and clearing services, was granted a license from Israel’s Capital Market, Insurance and Savings Authority to provide financial asset services after a two-year process that included a comprehensive review by authorities.
BlueSnap helps companies get paid through sales channels like online and mobile sales along with Facebook Marketplace, invoices, subscriptions and other things.
The company has operated in Israel for 20 years and can now keep supporting Israeli companies and startups looking for global payment and clearing services. That includes solutions for online sales.
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