Stamps.com Decides To Go Private

(RTTNews) - Stamps.com (STMP) on Friday announced its decision to go private by software investment firm Thoma Bravo acquiring it in an all-cash transaction valued about $6.6 billion.

As per the deal, the company's stockholders will get $330, a premium of 67 percent over the company's closing share price as on July 8, 2021 and 71 percent premium over the three-month volume-weighted average closing share price through July 8, 2021.

"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 Brian Jaffee, a Principal at Thoma Bravo.

The agreement includes a "go-shop" period of 40 days, which expires on August 18, 2021.

The transaction is expected to close in the third quarter of 2021.