NEW YORK (The Deal) -- Borderfree (BRDR) stock more than doubled Wednesday after the international e-commerce services provider announced it would be acquired by Pitney Bowes  (PBI - Get Report) for about $395 million.

Borderfree shares recently traded at close to $14, up 105% on the day and 55.5% for the year to date.

Stamford, Conn.-based technology company Pitney Bowes will pay $14 a share in cash for all outstanding shares of Borderfree, or about $395 million including expected cash and investments on the target's balance sheet upon closing, according to an announcement released after the close of regular trading Tuesday. The deal represents a premium of approximately 106% over the $6.79 the company's shares finished at on Tuesday.

The tender offer remains contingent on Borderfree stockholders tendering at least a majority of shares, clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. The transaction is anticipated to close in the second quarter of 2015.

Borderfree, headquartered in New York, helps U.S. retailers including Bloomingdales, Sephora, Macy's (M - Get Report), Under Armour (UA - Get Report) and Pottery Barn transact with customers across more than 100 countries and territories and north of 60 currencies.

The company posted first-quarter results Tuesday showing about $24.8 million in sales for the three months ended March 31, compared with $26.5 million a year earlier. Its loss widened to $4.6 million, from $2 million.

The company raised $80 million in its initial public offering on March 25, 2014, upon which Borderfree CEO Michael DeSimon told The Deal that the company would pursue takeover candidates that offer beneficial Internet protocol services and technologies, as well as international companies, to garner immediate scale.

On Jan. 26, it expanded its technology capabilities and global presence via the $22 million acquisition of DutyCalculator's parent company Bundle Tech, a Brighton, U.K.-based technology company that helps customers easily calculate tariffs, classify products and obtain international trade and customs compliance information across 95 countries.

For Pitney Bowes, the acquisition follows the divestiture of its management services business to private equity firm Apollo Global Management (APO - Get Report) for $400 million in cash on July 20.

Pitney Bowes has historically operated in the enterprise business space and is one of three United States Postal Service-approved vendors for reselling postal services. (STMP - Get Report) and Endicia, which it acquired for $215 million from Newell Rubbermaid (NWL - Get Report) in March, are the other two.

Read more from: