Global-e’s $100 Million Acquisition of Borderfree

Cravath, Swaine & Moore represented Pitney Bowes in the transaction.

Pitney Bowes, a global shipping and mailing company, and Global-e, a cross-border end-to-end platform for brands and retailers, announced they have entered into a definitive agreement for Global-e to acquire from Pitney Bowes the Borderfree cross-border ecommerce solutions business.

In addition, the companies will begin a strategic partnership and commercial relationship whereby Pitney Bowes will provide cross-border ecommerce logistics services to Global-e and its clients, and Pitney Bowes’s clients will receive access to cross-border solutions on the Global-e platform. 

Global-e will acquire Borderfree for approximately $100 million, financed with cash. Borderfree is expected to generate in excess of $40 million in revenues in calendar year 2022. The transaction is expected to close during Q3 2022, subject to customary conditions.

Global-e’s mission is to make global e-commerce “border-agnostic.” Global-e is the world’s leading platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. The chosen partner of more than 650 global brands and retailers across the United States, Europe and Asia, Global-e makes selling internationally as simple as selling domestically. 

Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. 

The Cravath team was led by partner Ting S. Chen (Picture) and included associates Cole DuMond and Peter Kim on M&A matters; partner Eric W. Hilfers and associates Jana I. Hymowitz and Molly E. Nichols on executive compensation and benefits matters; partner David J. Kappos and associate Carys J. Webb on intellectual property matters; partner Andrew T. Davis and associate Kyle R. Jorstad on tax matters; and practice area attorney Brian M. Budnick on real estate matters. J. Elizabeth Allan also worked on M&A matters.

Involved fees earner: Brian Budnick – Cravath Swaine & Moore; Ting Chen – Cravath Swaine & Moore; Andrew Davis – Cravath Swaine & Moore; Cole DuMond – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Jana Hymowitz – Cravath Swaine & Moore; Kyle Jorstad – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Peter Kim – Cravath Swaine & Moore; Molly Nichols – Cravath Swaine & Moore; Carys Webb – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Pitney Bowes Inc.;