Aramex announced that it is has entered into a binding agreement to fully acquire Access USA Shipping LLC (“MyUS”), a global technology-driven platform that aims to enable cross-border e-Commerce, for a cash purchase price of USD $265m , subject to customary adjustments.
MyUS is a 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. MyUS has proprietary software and scalable technology, expertise gained over its 24 years of operations and a customer-centric business model that addresses the needs of shoppers worldwide.
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 USD $4tnglobal 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.
The acquisition of MyUS is subject to customary closing conditions, including applicable regulatory approvals. Aramex will fully disclose the details of the transaction upon closing, which is expected in the third quarter of 2022.
