Credit: Shutterstock photoStamford-based Pitney Bowes Inc.PBI fortified its shipping logistics portfolio with the acquisition of Enroute Systems Corporation, a cloud-based, software-as-a-service enterprise retail and fulfilment solutions company.
The financial details of the transaction were kept under wraps.
Enroute Systems offers advanced transportation management system solutions and caters to the shipping and logistics industries. The Seattle, Washington-based company sells systems that facilitate product shippers to select a carrier, examine the weight of packages, print to labels and other functions, while analyzing thousands of shipments every day.
Enroute Systems' enterprise-grade, multi-carrier shipping solutions have delivered quicker shipping execution times, lower shipping costs, real-time supply chain visibility and tracking and enhanced business intelligence since 2008.
The company's established, distinctive capabilities will complement and expand Pitney Bowes' portfolio of ecommerce offerings for clients throughout the retail supply chain.
The deal will allow Pitney Bowes to deliver a flawless shopping experience to its clientele across channels, by integrating a range of physical and digital processes in the fulfilment management chain.
For Enroute Systems, the deal will unlock great expansion prospects, especially in its omnichannel solutions. Enroute Systems' existing clients will be able to leverage Pitney Bowes's ecommerce scale and end-to-end capabilities.
The acquisition follows Pitney Bowes' purchase of Borderfree last June, as the company sought to strengthen its e-commerce business. The acquisition also gave Pitney Bowes a first-mover advantage in a multibillion-dollar market, which is enjoying double-digit growth. The integration of Borderfree into its global e-commerce business is expected to unlock significant cost synergies in the long run.
Pitney Bowes currently has a Zacks Rank #3 (Hold). Some better-ranked stocks that are worth a look now include Alps Electric Co. Ltd. APELY , TransAct Technologies Incorporated TACT and Immersion Corporation IMMR . While Alps Electric and TransAct Technologies both sport a Zacks Rank #1 (Strong Buy), Immersion holds a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
