Dubai-listed courier firm Aramex entered a binding agreement to fully acquire Florida-based e-commerce platform MyUS for a cash price of $265 million, as part of its strategy to grow its e-commerce operations.
The deal, which is subject to closing conditions, will provide benefits for both parties including operational synergies, improved efficiencies, shared technology platforms, and the opportunity to serve new markets, Aramex said in a statement.
The transaction is expected to be closed in Q3 of 2022, with an additional Dubai Financial Market (DFM) disclosure stating that the purchaser will be Aramex subsidiary Aramex USA Limited and that it will be 100 percent debt funded through third-party bank loans.
The acquisition is in line with Aramex’s strategy to expand its cross-border operations and capitalize on attractive growth opportunities in the $4 trillion global e-commerce sector, the company said.
