FedEx Expanding Cross Border Enablement Solutions with Acquisition of Bongo International
December 16 2014 - 4:00PM
Business Wire
A leader in cross border e-commerce technology
and solutions, Bongo International expands the FedEx global
e-commerce portfolio
FedEx Corp. (NYSE:FDX) announced today that it acquired Bongo
International, a leader in cross border enablement technologies and
solutions. Bongo International’s capabilities complement and expand
the FedEx portfolio of offerings important to the rapidly growing
global e-commerce marketplace.
Bongo International’s technology and processes provide a
comprehensive and integrated end-to-end solution that helps
retailers and e-tailers grow by reaching international e-commerce
consumers. Bongo International’s capabilities include duty and tax
calculations; export compliance management; HS classification;
currency conversions; international payment options inclusive of
language translation; shopping cart management and fraud
protection.
With a base of over 2,000 retailers across Europe, the UK and
U.S., Bongo International is currently delivering cross border
enablement solutions to more than 200 countries worldwide.
“We anticipate global e-commerce to continue on a double digit
growth trajectory,” said T. Michael Glenn, FedEx Corporation
Executive Vice President, Market Development and Corporate
Communications. “Bongo International’s end-to-end cross border
enablement capabilities will greatly enhance the FedEx portfolio of
global e-commerce solutions and provide customers with unmatched
flexibility to establish and expand their international business
and customer base.”
“Our knowledge and experience within the evolving cross border
enablement environment, as well as our customer-centric culture, is
a perfect fit with FedEx. We’re excited about joining the
FedEx family,” said Craig Turnbull, Bongo International Co-Founder
and Chief Executive Officer. “Our collective cross border and
transportation solutions will catapult our customers’ global
e-commerce business capabilities.”
Bongo International is headquartered in St. Petersburg, Fla. and
will operate as a subsidiary of FedEx Trade Networks.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses
worldwide with a broad portfolio of transportation, e-commerce and
business services. With annual revenues of $46 billion, the company
offers integrated business applications through operating companies
competing collectively and managed collaboratively, under the
respected FedEx brand. Consistently ranked among the world’s most
admired and trusted employers, FedEx inspires its more than 300,000
team members to remain “absolutely, positively” focused on safety,
the highest ethical and professional standards and the needs of
their customers and communities. For more information, visit
news.fedex.com.
About Bongo
International
Bongo International helps consumers and businesses overcome the
obstacles associated with international e-commerce shipments and
orders. Bongo International supports more than 250,000 customers in
more than 200 countries, as well as EU, UK and U.S. online
retailers through a comprehensive end-to-end suite of solutions
covering accurate duty and tax calculations; export compliance
management; HS classification; currency conversions; international
payment options inclusive of language translation; shopping cart
management; fraud protection.
Certain statements in this press release may be considered
“forward-looking” statements within the meaning of the Private
Securities Litigation Reform Act of 1995 with respect to future
events and financial performance. These forward-looking statements
involve risks and uncertainties. Actual results may differ
materially from those contemplated (expressed or implied) by such
forward-looking statements, because of, among other things,
economic conditions in the global markets in which we operate, the
impact of any international conflicts or terrorist activities,
disruptions to the Internet or our technology infrastructure, the
impact of changes in fuel prices and foreign currency exchange
rates and adverse weather conditions or natural disasters, as well
as the other risks and uncertainties you can find in FedEx’s and
its subsidiaries’ press releases and SEC filings, including the
risk factors in FedEx’s most recent annual report on Form 10-K, as
updated by FedEx’s quarterly reports on Form 10-Q.
FedEx Media RelationsErin Truxal,
901-834-9240erin.truxal@fedex.com
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