Global-e, an Israeli fintech company offering services in commerce and retail, is buying the Borderfree cross-border e-commerce solutions business from its parent company the global shipping and mailing firm Pitney Bowes. Global-e will acquire Borderfree for approximately $100 million, financed with cash, and complete the acquisition by the end of Q3 2022.
Borderfree helps retailers enter new global markets by localizing their domestic website in 200+ countries and territories, simplifying compliance and regulations processing. Borderfree is expected to generate in excess of $40 million in revenues in calendar year 2022.
Leveraging Borderfree’s capabilities, Global-e will provide merchants with a best-in-class solution of global demand generation. Current Borderfree clients will gain access to Global-e’s leading platform localization capabilities, in combination with Global-e’s unique data models and AI-algorithms for conversion optimization.
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In addition to the acquisition, Pitney Bowles and Global-e have also entered into a new partnership in which Pitney Bowes will provide cross-border ecommerce logistics services to Global-e and its clients. In turn, Pitney Bowes clients will receive access to best-in-class cross-border solutions on the Global-e platform.
Global-e has been on a buying spree of late. Last November the company bought e-commerce provider Flow for $500 million.
Founded in 2013 by Amir Schlachet, Shahar Tamari, and Nir Debbi, Global-e offers a platform that the company says enables and accelerates global, direct-to-consumer cross-border e-commerce growth for businesses. It is a partner to hundreds of retailers and brands across the United States, Europe and Asia, Global-e and has the tag line, “makes selling internationally as simple as selling domestically.”
Global-e boasts that with its services retailers and brands can increase international traffic conversion and grow sales by offering customers in over 200 destinations worldwide a “seamless localized shopping experience.”
“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. “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. In addition, the acquisition will further cement 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 enterprise brands.”
“Borderfree shares our values and aspirations to help brands become global,” added Amir Schlachet, CEO and Co-founder of Global-e. “We are delighted to welcome the Borderfree team into the Global-e family and are excited about the opportunity to partner with Pitney Bowes.”