May 22, 2001 3:40 PM PDT
UPS buys iShip assets from Stamps.com
UPS prompted the deal by acquiring Mail Boxes Etc. earlier this year, Stamps.com spokeswoman Kathy Brush said. Mail Boxes is iShip's biggest customer. Santa Monica, Calif.-based Stamps.com acquired iShip for more than $200 million in stock in March 1999. Brush said the sale is "not material" to Stamps.com's financial standing, and the sale price was lower than what Stamps.com paid for iShip.