Borderfree, Inc. (BRDR)

Borderfree, Inc. provided cross-border e-commerce services that let US retailers sell online to shoppers in other countries. Its platform handled the parts of international selling that domestic merchants found hard: showing prices in local currencies, calculating duties and taxes at checkout, screening for fraud, processing foreign payments and arranging international shipping and returns. Clients included well-known department stores and fashion brands that wanted to reach foreign customers without building their own global operations.

The business grew out of an Israeli-founded company called FiftyOne Global Ecommerce, which adopted the Borderfree name. It was based in New York City and kept development teams in Israel. Revenue came largely from fees on the international orders it processed, and by 2014 the company reported revenue of about $125 million.

Borderfree completed an initial public offering on NASDAQ in March 2014 under the symbol BRDR. As a newly public company, it faced pressure from currency swings and from the concentration of its business among a limited number of large retail clients.

In May 2015 Pitney Bowes agreed to acquire Borderfree for $14.00 per share in cash, a deal valued at roughly $395 million. Pitney Bowes launched a tender offer that expired at midnight on June 9, 2015, with about 95% of the outstanding shares tendered. The acquisition was completed by merger on June 10, 2015, and Borderfree's stock was removed from NASDAQ. Pitney Bowes combined Borderfree with its existing cross-border shipping operations to form a global e-commerce unit. The business became part of the company's broader push into parcel and e-commerce logistics.