Stamps.com Inc. STMP, +0.36% announced Friday an agreement to be acquired by software investment firm Thoma Bravo in a cash deal that values the web-based mailing and shipping services company at $6.6 billion. Stamps’ stock soared 35.6% in premarket trading, prior to a trading halt for news. Under terms of the deal, which is expected to close in the third quarter of 2021, Stamps shareholders will receive $330 in cash for each Stamps share they own, representing a 67% premium to Thursday’s closing price of $197.72, and 6.7% above the Aug. 7, 2020 record close of $309.36. The deal includes a 40-day “go-shop” period in which Stamps can solicit alternative merger deals. “With the financial and operational support of Thoma Bravo, Stamps.com can continue to innovate and pursue growth opportunities to capture the expanding e-commerce shipping market and extend our position as the leading global multi-carrier e-commerce shipping software company,” said Stamps Chief Executive Ken McBride. The stock has edged up 0.8% year to date through Thursday and has lost 5.6% over the past 12 months, while the S&P 500 SPX, -0.86% has gained 15.0% this year and rallied 37.1% over the past year.
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