UPDATE 1-Shares of e-commerce tech firm Borderfree soar in debut
* At high of $21.25, company valued at about $648 mln
* Company raises about $80 mln from offering (Adds details)
March 21 (Reuters) - Borderfree Inc's shares rose as much as 33 percent in their debut, valuing the e-commerce technology provider at about $648 million.
Borderfree provides online tools that help U.S. retailers such as Macy's Inc, Aeropostale Inc and Under Armour Inc.
The company raised about $80 million after its offering of 5 million shares was priced at $16 each, the top end of its expected price range.
Borderfree's shares opened at $21 and rose to $21.25. About 3 million shares changed hands by 1100 ET.
The company, which was formerly known as FiftyOne Inc, changed its name to Borderfree after acquiring a business unit with the same name from Canada Post Corp in 2012.
Borderfree's revenue comes from fees paid by customers, based on a percentage of sales generated through its platform.
Overseas consumers are expected to spend $24 billion on physical goods from U.S. online retailers in 2014, the company said, citing a study by Forrester Research Inc. Continued...