With a 135 percent rise this year, the third-best-performing stock in the broad S&P 1500 index is an unexpected name: Stamps.com.
Investors might be surprised to hear “stamps” and “best-performing” in the same sentence. But one of the few analysts who covers the company says that the stock has little to do with the art of licking small rectangles, or with your uncle’s philately hobby. Continue reading
EL SEGUNDO, Calif., March 24, 2015 – Stamps.com® (Nasdaq:STMP) today announced that it has entered into a definitive agreement with Newell Rubbermaid Inc. for Stamps.com 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. Continue reading