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Stamps.com Agrees to Thoma Bravo Buyout at $6.6 Billion Cash

The Chicago software-focused private-equity firm Thoma Bravo agreed to pay $330 cash a share, or $6.6 billion, for Stamps.com.
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Shares of Stamps.com  (STMP) - Get Stamps.com Inc. Report jumped on Friday after the shipping-solutions specialist agreed to be acquired by software-focused private-equity firm Thoma Bravo for $6.6 billion cash.

Under the terms the Chicago PE firm will pay $330 cash for each Stamps.com share. That's a 67% premium over the stock's closing price of $197.72. on Thursday.

At last check Stamps.com shares were up 65% at $325.50.

The deal includes a 40-day go-shop period -- through Aug. 18 -- during which the company can actively seek better acquisition proposals. During this window, the board will have the right to terminate the Thoma Bravo agreement with no penalty, the companies said.

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Meantime, the company and PE firm hope to close the deal in this quarter, subject to conditions including regulatory clearances and a vote of Stamps.com holders.

With Thoma Bravo's backing, Stamps.com will aim "to capture the expanding e-commerce shipping market," Chief Executive Ken McBride said in a statement. 

"The e-commerce landscape is rapidly evolving and we look forward to partnering with the Stamps.com team to continue building on the company’s leading position in e-commerce shipping solutions," said Thoma Bravo principal Brian Jaffee. 

Stamps.com's fundamentals soared last year amid the pandemic as more people were forced to shop and do business from home. A jump in small businesses based in cyberspace is also a bullish trend for the shipping company.