Stord buys Pitney Bowes’ e-commerce fulfillment business

Supply chain logistics company Stord on Friday acquired the order fulfillment business of Pitney Bowes’ e-commerce division, according to a report from The Information, independently confirmed by FreightWaves.

According to the report, terms of the takeover have not yet been disclosed.

The news comes after Pitney Bowes (NYSE: PBI) announced that Greg Zegras has retired as president of the company’s Global Ecommerce segment earlier this month. Zegras has held several executive positions since joining the company in 2013. No successor has been named to fill the vacant position.

Stord provides a comprehensive solution for shippers through a cloud-based platform. This is the company’s second e-commerce acquisition in four months after buying ProPackLogistics in April. That purchase left Stord operating 1.6 million square feet of fulfillment centers that are expected to ship more than 25 million direct-to-consumer and business-to-business orders.