Global courier service delivery business, FedEx has acquired TNT Express for 4.4 billion as part of effort to remain largest courier firm.
The deal by two of the world’s largest air express network and an unparalleled European road network will expand the existing FedEx portfolio and reshape the global transportation and logistics industry.
Chairman and Chief Executive Officer of FedEx Frederick W. Smith, who announced the acquisition said that the “acquisition is a significant accomplishment and marks the beginning of a new era, filled with promise for our people, customers and share owners.”
Smith said both companies are proud to celebrate the joining of two iconic companies and the approximately 400,000 team members who are committed to serving customers around the world.
“The timing of this historic event is important, particularly in the current market environment where global e-commerce is growing at doubledigit rates.”
He stressed that TNT’s capabilities adds to FedEx existing world-class suite of services, including GENCO and the recently re-launched FedEx CrossBorder, which will further expand the ability of FedEx to support business connections around the world.
