The National News: Aramex Acquires MyUS for $265M
The largest Middle Eastern courier company, Aramex, secured a binding agreement of $265M to fully acquire a Florida-based company, MyUS. The Dubai-based logistics company said that the acquisition is in line with its strategy to expand on cross-border operations and capitalize on growth opportunities in the global e-commerce sector.
MyUS is a global technology-driven platform that enables cross-border e-commerce, providing package forwarding solutions for customers of retailers based in the US, UK, and China. Through this deal, both parties will benefit through operational synergies, improved efficiencies, shared technology platforms, and exposure to new markets. Noted by Ramesh Bulusu, chief executive of MyUS, the acquisition opens doors for “customers and business partners” to “global network, international expertise, and scale”.
Aramex is truly optimistic about this agreement as this is a proactive step in addressing its rising supply costs and the slow demand growth in the e-commerce scene since the pandemic. “We believe this transaction will open new trade lanes for both companies, as well as increase trade flow from major global trade hubs into the Middle East, where Aramex is a leading player,” said Othman Aljeda, chief executive of Aramex.
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