Aramex to acquire US cross-border e-commerce platform for $265m

Dubai - Mubasher: Aramex has signed a binding agreement to fully acquire Access USA Shipping (MyUS), a US-based technology-driven platform that enables cross-border e-commerce, in exchange for $265 million.

Both companies will explore several benefits from the acquisition, including operational synergies and improved efficiencies, shared technology platforms, and the opportunity to serve new markets, according to a recent press release.

The transaction aligns with Aramex’s strategy to expand its cross-border operations and unlock growth opportunities in the e-commerce sector worth $4 trillion.

The CEO of Aramex, Othman Aljeda, said: "We believe this transaction will open new trade lanes for both companies, as well as increase trade flow from major global trade hubs into the Middle East, where Aramex is a leading player."

Meanwhile, the CEO of MyUS, Ramesh Bulusu, commented: "This acquisition allows our customers and business partners to benefit from Aramex’s global network, international expertise, and scale, while still being able to enjoy our personalized, tailored solutions."

Mubasher Contribution Time: 02-Jun-2022 06:49 (GMT)
Mubasher Last Update Time: 02-Jun-2022 06:49 (GMT)