[News] Stamps.com buys ShipWorks for $22 million
The following article below was published today by StlToday.com, announcing the acquisition of ShipWorks by STAMPS.com. This is an exciting time for our company, and we are confident the acquisition will present even more opportunities for the growth and advancement of our software.
Stamps.com buys ShipWorks for $22 million
ST. LOUIS, MO (10.20.14) – Stamps.com has acquired ShipWorks, a St. Louis-based e-commerce shipping software firm, for $22 million.
El Segundo, Calif.-based Stamps.com said ShipWorks will operate as an independent, wholly owned subsidiary. Its current management will remain in place, according to a statement announcing the deal.
ShipWorks was founded in 2002 by Wes Clayton and Brian Nottingham shortly after they graduated from St. Louis University. Following the sale, Clayton is co-general manager and chief operating officer of ShipWorks and Nottingham is co-general manager and chief technology officer.
“The acquisition of ShipWorks represents another strategic investment in our high volume and e-commerce shipping business,” Ken McBride, Stamps.com‘s chairman and CEO, said in a statement. “E-commerce driven package shipping is a very attractive segment within the mailing and shipping space and this acquisition further leverages our ability to accelerate our growth in this area.”
As of April, ShipWorks had 22 employees at its headquarters at the Gateway Tower office building across from the Gateway Arch in downtown St. Louis.
[button link=”https://registration.shipworks.com/WebRegistration/#!&p=create-account” newwindow=”yes”] Try ShipWorks Free[/button]