Aramex, the Dubai Financial Market (DFM)-listed leading global provider of logistics and transportation solutions, has acquired Access USA Shipping (MyUS), a global technology-driven platform, for $265 million.
Following the deal, which marks Aramex’s largest acquisition to date, 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 eCommerce solutions platform.
This move 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 immediately value accretive for Aramex, providing strong growth in revenues, attractive profitability and superior cash conversion.
“With the successful close of our largest strategic acquisition, Aramex has become an even more competitive player in the cross-border eCommerce space. Given how complementary MyUS’s business is to ours, we believe our wider stakeholder universe will realize the immediate and long-term positive benefits of this acquisition. Our shareholders will immediately see the impact on financial performance, and over the long term, we can unlock further value through operational and cost synergies. Our customers are set to benefit from further enhanced network coverage and service excellence from the first to the last mile.”
MyUS provides cost-effective package forwarding solutions. In 2021, the company generated more than $100 million in revenue and delivered 1.1 million packages to customers who shop from retailers based in the US, UK and China. The company has about 180,000 active customers.
Mr. Ramesh Bulusu, CEO of MyUS, said that “We are ready to take our products and solutions to new markets by leveraging on Aramex’s extensive global network, scale, knowledge and expertise in markets exhibiting very attractive characteristics such as the MENA region, the UK and Australia. Together with Aramex, we will work on developing a joint business plan to unlock revenue and operational synergies to help grow the cross-border eCommerce business and bring customers the best solutions and services.”