Stamps.com changes its corporate name to Auctane and appoints Nathan Jones as chief executive, succeeding Ken McBride, a 22-year company veteran. The leadership and rebranding changes follow the company's take-private by Thoma Bravo and reflect its effort to address broader e-commerce needs.
Thoma Bravo completes its approximately $6.6 billion cash acquisition of Stamps.com after stockholders approve the deal. Stamps.com common stock ceases trading on the NASDAQ Global Select Market.
Stamps.com agrees to be acquired by Thoma Bravo in a $6.6 billion cash deal valued at $330 per share. The deal carries a 67 percent premium over Stamps.com’s July 8 closing price and will take the company private, removing it from Nasdaq.
A shareholder derivative action follows the end of Stamps.com's USPS reseller partnership. The complaint says the partnership accounted for 87 percent of the company's business, and its end preceded a 58 percent one-day decline in the shares.
