Global-E Online Ltd. GLBE, +9.13% announced early Tuesday that it has entered into a definitive agreement to acquire Pitney Bowes Inc.’s PBI, +2.20% e-commerce global mailing and shipping business, Borderfree, for $100 million, financed in cash. Borderfree is expected to generate $40 million in revenue in calendar 2022. Borderfree helps e-commerce businesses manage local regulations and more in 200-plus countries. Global-E and Pitney Bowes will also become strategic partners, with Pitney Bowes providing Global-E clients with cross-border support. Global-E stock jumped 6.5% in early Tuesday trading, and is down 69% for the year to date. Pitney Bowes is down 45% for 2022 so far.
