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Up to date July 27, 9:20 a.m.: Added Pitney Bowes remark.
Logistics startup Stord is buying Pitney Bowes’ e-commerce success providers enterprise (NYSE:PBI), based on a report Friday from The Data, which cited a memo despatched to Pitney Bowes workers. Pitney Bowes up 12% in after-hours buying and selling.
In keeping with stories, phrases of the deal weren’t instantly introduced.
Pitney Bowes confirmed in an announcement to Searching for Alpha that it offered its e-commerce unit’s success providers enterprise, noting that it was solely a small a part of the unit.
The corporate stated in an announcement: “Pitney Bowes remains to be working to finish a strategic overview of the corporate’s world e-commerce enterprise. Within the meantime, it has offered the division’s success providers enterprise, which is just a small a part of the enterprise.
Pitney Bowes (PBI) stated in late Could it was accelerating a strategic overview of its world e-commerce area, which is underway. The corporate has been below strain from activist investor Hestia Capital Administration for months.
Pitney Bowes (PBI) declined to remark to The Data.
In late Could, Pitney Bowes (PBI) named Lance Rosenzweig as its new interim CEO as Jason Dies steps down and retires from the corporate. Earlier this month, the corporate chosen 4 board candidates proposed by Hestia Capital. Hestia, which first disclosed its stake in Pitney Bowes (PBI) in November, reportedly held some discussions with the corporate and beneficial promoting a few of its underperforming companies.
