Borderfree's Stock Soars After Merger Deal With Pitney Bowes

Shares of Borderfree Inc. rocketed 76% in light after-hours trade Tuesday, after the e-commerce services company announced an agreement to be acquired by Pitney Bowes Inc. in a deal that would value Borderfree at about $448.7 million. Under terms of the agreement, Pitney Bowes will pay $14 in cash for each Borderfree share outstanding, which is more than double Tuesday's closing price of $6.79. Pitney Bowes's stock was little changed in after-hours trade. Separately, Borderfree reported a first-quarter net loss that widened to $4.6 million from $2 million, while revenue fell 7% to $24.8 million.