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. No shareholder approval is required in this all cash transaction. 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. Combined, the companies can enhance innovation and increase domestic and international shipping growth for the benefit of our customers and partners." "The acquisition will pair Endicia's technology leadership in shipping and its large national sales team with 's large scale small business customer acquisition. "We are very excited about the opportunity to become a part of ," said Amine Khechfe, Endicia General Manager. 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." 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. "Endicia is a great complement to 's traditional strength in the enterprise and small business mailing segments. "The acquisition of Endicia represents a significant strategic investment in our high volume shipper business," said Ken McBride, chairman and CEO. Endicia had approximately $59 million in revenue during fiscal 2014. Endicia also provides seamless access to USPS and other shipping services through integration with more than 250 partner applications. Endicia sells its products under brand names including Endicia®, DYMO® Stamps™ and PictureItPostage®. Postal Service® and other postal partners.Įndicia offers solutions that help businesses run their shipping operations more smoothly and function more successfully. Based in Palo Alto, California, Endicia is a leading provider of high volume shipping technologies and solutions for use with the U.S. for to acquire Endicia, a wholly owned subsidiary of Newell Rubbermaid, for $215 million in cash. EL SEGUNDO, CA-(Marketwired - Mar 24, 2015) - ® ( NASDAQ: STMP) today announced that it has entered into a definitive agreement with Newell Rubbermaid Inc.
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