MyUS to be fully integrated into Aramex as a strategic business unit
Aramex recently announced today that it has obtained all the necessary regulatory approvals and completed the acquisition of Access USA Shipping, (MyUS), a global technology-driven platform that enables cross-border e-Commerce, for an all-cash purchase price of approximately US$ 265mn. The transaction marks Aramex’s largest acquisition to date.
As a result of this acquisition, MyUS will be fully integrated into Aramex’s business, operating as a business unit within the Company’s Courier business segment. MyUS will retain its brand name and will be complementary to Shop & Ship, Aramex’s subscription-based last mile e-Commerce solutions platform.
The acquisition will further strengthen Aramex’s cross-border express business by increasing shipment volumes, growing, and diversifying its customer base, and expanding coverage in new origins and destinations. This transaction is also expected to be immediately value accretive for Aramex, providing strong growth in revenues, attractive profitability and superior cash conversion.
MyUS is a leading, US-headquartered, technology-driven and cross-border e-Commerce enabling platform, providing cost-effective package forwarding solutions. In 2021, the Company generated more than US$ 100mn in revenue and delivered 1.1mn packages to customers who shop from retailers based in the US, UK and China.
“As we start the integration process, I would like to extend a warm welcome to MyUS’s employees and customers and look forward to growing further, together,” stated Othman Aljeda, CEO, Aramex.
“Ultimately, our goal under Aramex’s ownership is to accelerate our growth in a fragmented multi-trillion-dollar global e-Commerce market,” remarked Ramesh Bulusu, CEO, MyUS.