Goodwin Procter attorneys recently advised Borderfree in its approximately $395 million sale, net of cash, to Pitney Bowes. According to the agreement, Pitney Bowes will pay $14.00 per share in cash. The transaction is subject to customary closing conditions. Additional terms were not disclosed.
Borderfree (NASDAQ: BRDR) provides global ecommerce solutions, operating a technology and services platform that allows brands to expand globally and transact with customers in more than 100 countries and territories and in more than 60 currencies. Borderfree manages all aspects of the international shopping experience, including site localization, multi-currency pricing, payment processing, fraud management, landed cost calculation, customs clearance and brokerage and global logistics services. The company is headquartered in New York City with offices in Tel Aviv, Toronto, Dublin, Brighton and Shanghai.
Pitney Bowes (NYSE: PBI) is a global technology company offering products and solutions that enable commerce in the areas of customer information management, location intelligence, customer engagement, shipping and mailing and global ecommerce. The company has more than 1.5 million clients in approximately 100 countries. Pitney Bowes is headquartered in Stamford, Conn.
Goodwin has represented the company since 2006 and previously advised Borderfree on its successful initial public offering in March 2014.
The Goodwin team advising Borderfree was led by Mark Macenka, Joe Theis and Jim Matarese, and included James Xu and Carol Sweeney (Corporate); Joel Lehrer (IP); Natascha George (Employee Benefits); Al Solecki (Labor & Employment); Deborah Birnbach and Caroline Bullerjahn (Securities Litigation); Mark Kirshenbaum and Eliza Reed (Tax) and Kirby Lewis and Todd Hahn (Antitrust).
To learn more, please read the Borderfree quarterly earnings release which announced the transaction.