Abu Dhabi-based B2B logistics SaaS platform Lyve Global has acquired a majority stake in Shopini World, a leading cross-border eCommerce logistics and solutions provider to businesses and consumers across MENA, with operational presence in the UAE, USA, UK, Turkey, and China.
The company said in a statement that the acquisition reflects its ongoing commitment to strengthen its offering as the company plans to invest $150 million in high-quality acquisitions within the next two years to broaden its global portfolio and expand market reach.
Further, this acquisition brings together significant operational synergies with Shopini’s eCommerce solutions and international network, as well as Lyve’s technology and logistics infrastructure in the region.
According to the statement, “The combination of Shopini’s first- and middle-mile services with Lyve’s solutions completes the entire logistics cycle – driving efficiencies, and greatly enhancing execution capabilities and customer reach for Lyve’s eCommerce clients.”
The company further noted that “through this investment, it will continue to grow and maximize value for each of its portfolio companies, providing tailored support for every investment and working closely to align synergies to leverage its rich network.”
Mr. Nader Museitif, Chief Investment Officer at Lyve, stated that, “Our investment strategy is designed to complement and accelerate our organic efforts and we are looking forward to announcing more partnerships soon.”
“We are super excited to be recognized by a great organization like Lyve Global, for the top-notch parcel cross-borders technologies we have built and for the innovative solutions we provide to local and international e-commerce merchants based in the USA, UK, Turkey, China, and the UAE. Our partnership with Lyve Global will definitely help us grow faster by enabling and complementing our cross-borders solutions into the ME and internationally as well,” commented Mr. Rami Murad, Chief Executive Officer of Shopini World.