to buy Endicia

endiciaEL SEGUNDO, Calif., March 24, 2015 –® (Nasdaq:STMP) today announced that it has entered into a definitive agreement with Newell Rubbermaid Inc. for to acquire Endicia, a wholly owned subsidiary of Newell Rubbermaid, for $215 million in cash. Based in Palo Alto, California, Endicia is a leading provider of high volume shipping technologies and solutions for use with the U.S. Postal Service® and other postal partners.

Endicia offers solutions that help businesses run their shipping operations more smoothly and function more successfully. Endicia sells its products under brand names including Endicia®, DYMO® Stamps™ and PictureItPostage®. Endicia also provides seamless access to USPS and other shipping services through integration with more than 250 partner applications. Endicia had approximately $59 million in revenue during fiscal 2014.

“The acquisition of Endicia represents a significant strategic investment in our high volume shipper business,” said Ken McBride, chairman and CEO. “Endicia is a great complement to’s traditional strength in the enterprise and small business mailing segments. High volume shipping is the fastest growing segment within the mailing and shipping space and this acquisition will allow us to accelerate our innovation, enhance and streamline our sales and marketing, and accelerate our growth. Together, the two companies will be able to more effectively compete with the very large competitors we face today in the mailing and shipping industry.”

“We are very excited about the opportunity to become a part of,” said Amine Khechfe, Endicia General Manager. “The acquisition will pair Endicia’s technology leadership in shipping and its large national sales team with’s large scale small business customer acquisition. Combined, the companies can enhance innovation and increase domestic and international shipping growth for the benefit of our customers and partners.”

The Boards of Directors of both companies have approved the transaction which is expected to close within 5 business days after the fulfillment of the customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Act. No shareholder approval is required in this all cash transaction. intends to fund the transaction with at least $50 million of cash on hand and committed financing for $165 million from a group of leading US banks.  Manatt, Phelps & Phillips, LLP acted as legal counsel to

Additional Details on the Acquisition and Endicia are two rapidly growing providers of internet mailing and shipping solutions, but are focused on different segments of the market. primarily focuses on acquiring small business and enterprise mailing customers, and it has approximately 514 thousand paid customers which are predominantly in those two areas. spent approximately $40 million on customer acquisition during 2014, with the majority of that spend going into broad small business marketing programs. Endicia focuses on professional high volume shippers by providing products that enable domestic and international shipping, and by collaborating with over 250 integration partners. Endicia acquires its customers with a large national sales team of more than sixty people and with marketing programs that are expressly targeted at high volume shippers.

A summary of expected benefits of the acquisition include:

  • Accelerated Innovation. By combining resources and sharing expertise, expects the two companies to streamline software development tasks that are duplicated across the two companies, freeing resources to accelerate innovation that will benefit customers, partners and the US Postal Service.
  • Cross Selling of Solutions. expects the combined companies to utilize both the large scale customer acquisition resources of and the large national sales team of Endicia to most effectively market and sell both brands into their respective customer segments.
  • Enhanced Customer Support. expects to combine and share the complementary expertise of both companies’ customer support organizations in order to create a larger, more efficient, more knowledgeable, and more responsive combined support organization.
  • Enhanced Competitiveness Against Large Companies. expects the companies to become more effective in competing against, for example, Pitney Bowes (which offers postage meters and shipping solutions), eBay (which offers a no-cost eCommerce shipping solution), and various free shipping software products available from a number of postal and private carriers.
  • Minimal Customer Overlap. The profile of the top customers of the companies are very different, with nearly all of’s top customers in the enterprise mailing area, and all of Endicia’s top customers in the high volume shipping area. As a result of the different focuses of the two companies, the average annual volume per customer for Endicia is significantly higher than that of
  • Corporate Cost Savings. By operating independent brands in one corporation, expects the companies to realize synergies to improve overall operational efficiency over the long term. expects the companies to achieve significant cost reduction by, for example, reducing vendor costs, eliminating duplicate back end infrastructure, and redeploying resources into new areas.

Conference Call will hold a conference call which will be webcast today at 5:00 p.m. Eastern Time and may be accessed at The Company plans to discuss its intention to acquire Endicia. Following the conclusion of the webcast, a replay of the call will be available at the same website.

About Endicia

Headquartered in Palo Alto, California, Endicia is a leading provider of high volume shipping technologies and services for U.S. Postal Service shipping. It offers solutions that help businesses run their shipping operations more smoothly and function more successfully. Endicia also provides seamless access to USPS shipping services through integration with more than 250 partner applications. Endicia has printed more than $12B in postage since inception. For more information on Endicia products and services, visit For shipping tips visit Follow Endicia on Twitter at @Endicia.

About (Nasdaq: STMP) is a leading provider of Internet-based postage services.’s service enables customers to print U.S. Postal Service-approved postage with just a computer, printer and Internet connection, right from their homes or offices. has been the leader in transforming mailing and shipping for small business, enterprise mailers, e-commerce sellers, and high volume shippers. During both 2013 and 2014, was named to Forbes magazine’s “America’s Best Small Companies” list.