It said the acquisition would mean accelerating its innovation, improving customer support and competitiveness against larger rivals, as well as a boost to cross-selling of solutions. said it would fund the acquisition of Endicia with $50m in cash and $165m borrowed from a group of leading US banks. Last year the company expanded its e-commerce shipping offerings by acquiring software firms ShipStation and ShipWorks. In the last five years, has seen its annual revenue rise from $85.5m (2010) to $147.3m (2014).
The company based in El Segundo, California, listed on the Nasdaq exchange in June 1999. It currently claims to hold more than 80% of the total PC postage subscription market. was founded in 1996 to offer individuals, small businesses or corporations the ability to print US postage using any PC, a standard printer and an Internet connection. “Combined, the companies can enhance innovation and increase domestic and international shipping growth for the benefit of our customers and partners,” said Khechfe. Underlying sales in 2014 were about $59m.Īmine Khechfe, the Endicia general manager, said joining would bring together Endicia’s shipping technology expertise and large national sales team - of more than 60 people -with ’s strength in the small business segment. The company now claims to have printed more than $12bn in postage during its history. More recently the company has expanded into e-commerce shipping solutions to help businesses sell online more easily.Įndicia was renamed DYMO Endicia when Newell Rubbermaid acquired it in July 2007, but returned to the Endicia name in June 2013. The company’s work led to the development of electronic postage technology in the early 1990s. The company’s early work involved helping the US Postal Service to automate and improve its processes, including address cleansing and use of the POSTNET barcode. “While a very attractive asset, Endicia is not focused in the core of our portfolio, and under new ownership is in an exciting position to continue innovating and offering the best possible solutions and service for its customers and partners.” EndiciaĮndicia was founded in Palo Alto, California, in 1982 as technology consulting company PSI Associates. Michael Polk, the Newell Rubbermaid president and chief executive officer, said: “The announced sale of our Endicia business furthers our strategy of strengthening and focusing our portfolio to create a faster growing, higher margin business. The acquisition by is expected to close by the end of 2015, Newell Rubbermaid said. The company, which bought Endicia back in 2007, said it was selling up in order to improve company profitability and focus more on its core business as a consumer and commercial products company.
Newell Rubbermaid, the parent company of Endicia, announced on Tuesday that it had entered into a definitive agreement to make the sale for about $215m. US-based online postage and shipping business Endicia is set for sale to the online postage provider.
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