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Stamps.com closing B2B unit

Besieged e-tailer Stamps.com said Tuesday it is closing its majority-owned business-to-business subsidiary EncrypTix. ExcrypTix's board of directors voted to liquidate its assets and cease operations after the company was unable to secure additional funding, Stamps.com said in a statement. Created in November 1999, EncrypTix employed Stamps.com's technology, which companies could use to distribute tickets, gift certificates, coupons and travel boarding passes over the Internet to consumers who could print the documents.

Besieged e-tailer Stamps.com said Tuesday it is closing its majority-owned business-to-business subsidiary EncrypTix. ExcrypTix's board of directors voted to liquidate its assets and cease operations after the company was unable to secure additional funding, Stamps.com said in a statement. Created in November 1999, EncrypTix employed Stamps.com's technology, which companies could use to distribute tickets, gift certificates, coupons and travel boarding passes over the Internet to consumers who could print the documents.