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Technology Stocks : stamps.com (STMP) -- Ignore unavailable to you. Want to Upgrade?

To: Sr K who wrote (1196)	7/9/2021 9:33:06 AM
From: Glenn Petersen	1 Recommendation Recommended By Sr K Respond to of 1197

Stamps.com to Be Bought by Thoma Bravo in $6.6 Billion Cash Deal The e-commerce shipping software company will become a private company after its purchase By Michael Dabaie Wall Street Journal Updated July 9, 2021 9:14 am ET Stamps.com STMP 0.36% said it would be acquired by private-equity firm Thoma Bravo in an all-cash deal that values Stamps.com at about $6.6 billion. Stamps.com stockholders will receive $330 a share in cash, a 67% premium over the company’s $197.72 closing price Thursday. Upon completion of the deal, Stamps.com, an e-commerce shipping software company, will become a private company. Stamps.com said it will benefit from the operating capabilities, capital support and sector expertise of software and technology investor Thoma Bravo. Stamps.com said its board unanimously approved the agreement and recommends stockholders vote in favor of the deal at the special meeting that will be called. The agreement includes a 40-day “go-shop” period expiring Aug. 18, which allows the board and its advisers to initiate, solicit and consider alternative acquisition proposals from third parties. The companies expect the transaction to close in the third quarter, and upon closing Stamps.com’s common stock will no longer be listed on any public market. Thoma Bravo said Stamps.com is well positioned to capitalize on tailwinds in e-commerce. “As the first company to introduce online postage and an early innovator in e-commerce shipping software, Stamps.com has established itself as a key technology solution in world-wide e-commerce,” said Holden Spaht, Thoma Bravo managing partner. Stamps.com in May reported higher first-quarter revenue and earnings that came in above analyst expectations. Stamps.com shares soared after the deal was unveiled, up 65% to $325.55 in premarket trading. Stamps.com to Be Bought by Thoma Bravo in $6.6 Billion Cash Deal - WSJ