(Reuters) -Stamps.com said on Friday private equity firm Thoma Bravo would take the e-commerce shipping solutions provider private for about $6 billion in cash, sending its shares nearly 64% higher.<\/p>\n
Stamps.com shareholders will receive $330 per share, according to the agreement, representing a premium of about 67% to the stock\u2019s close on Thursday.<\/p>\n
The deal, expected to close in the third quarter of this year, is valued at about $6.6 billion including debt.<\/p>\n
Thoma Bravo is one the largest software-focused private equity firms with more than $78 billion in assets under management. Its portfolio companies include information technology services provider SolarWinds Corp and cybersecurity firm McAfee Corp.<\/p>\n
It announced take-private deals for security software vendor Proofpoint and data solutions provider Talend earlier this year.<\/p>\n
The high premium for Stamps.com was reasonable and justifiable in the context of recent software deals, K Liu & Co analyst said in a note.<\/p>\n
\u201cWe have always viewed Stamps.com as a juggernaut in the e-commerce space and believed shares could eventually garner a premium valuation more akin to highly regarded peers like Shopify,\u201d the note said.<\/p>\n
Stamps.com targets its services at small businesses and home offices and helps them print U.S. Postal Service-approved postage right from their workplace. The company, which has nearly 732,000 monthly subscribers, has also partnered with Microsoft.<\/p>\n
The deal also includes a 40-day \u201cgo-shop\u201d period, which will allow the company to consider alternative offers, Stamps.com said.<\/p>\n
The company\u2019s shares were trading at $323.42, about $7 behind the offer price.<\/p>\n