Logistics software producer Stamps.com agreed on Wednesday to acquire MetaPack, a UK-based e-commerce delivery services provider backed by marketing and public relations group WPP, for £175m ($230m) in cash.
Founded in 1999, MetaPack operates an online platform where e-commerce businesses can organise logistics, and is responsible for the deliveries of more than 550 million packages each year.
The company relies on a network of some 450 mail carriers and 5,000 logsitics services across the world. Clients can also access features such as worldwide order tracking, a streamlined returns process and carrier optimisation and monitoring systems.
MetaPack was one of five companies in which WPP invested a total of $16m in 2000, taking a sub-10% stake in the process. The company had already received funding from incubator Brainspark and was set to raise £2.6m ($3.4m at current rates) the same year.
Venture capital firm Index Ventures provided a further $32m in funding for the company in 2013 and it has not disclosed any investment since.
Ken McBride, chairman and CEO of Stamps.com, said: “MetaPack is the leading enterprise-level multi-carrier e-commerce software platform supporting the world’s largest retailers and the world’s best known brands. MetaPack has significant business in Europe, complementing Stamps.com’s strong position in the US.
“MetaPack also serves the largest enterprises and retailers, complementing Stamps.com’s traditional focus on smaller businesses. Together, the two companies will be better able to provide innovative solutions in an increasingly global e-commerce world to customers of all sizes and in all geographies.”