Value accretive deal for Aramex and shareholders
Aramex recently announced today that it is has entered into a binding agreement to fully acquire Access USA Shipping (MyUS), a global technology-driven platform that enables cross-border e-Commerce, for a cash purchase price of US$ 265mn, subject to customary adjustments.
MyUS is a leading, US-headquartered, technology-driven and cross-border e-Commerce platform, providing cost-effective package forwarding solutions to millions of customers who shop from retailers based in the US, UK and China., according to a corporate press communique.
The acquisition is in line with Aramex’s strategy to expand its cross-border operations and to capitalize on the attractive growth opportunities from a fast-growing US$ 4tn global e-Commerce sector. The acquisition is expected to unlock several benefits for both entities, including operational synergies and improved efficiencies, shared technology platforms and the opportunity to service new markets.
“We are acquiring a profitable business and this transaction is value accretive to Aramex and our shareholders. It will also create great value for our customers and partners,” commented Othman Aljeda, CEO, Aramex.
“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. We are confident that under Aramex’s stewardship, MyUS will continue to grow and flourish,” remarked Ramesh Bulusu, CEO, MyUS.