By Tess Stynes
FedEx Corp. said it acquired privately-held Bongo International,
adding a provider of services that enable international e-commerce
orders and shipments.
The deal comes a day after the package-delivery giant agreed to
buy logistics provider Genco, which has revenue of about $1.6
billion.
St. Petersburg, Fla.-based Bongo will operate as a subsidiary of
FedEx's trade networks business. The company's capabilities include
providing e-commerce and other retailers with duty and tax
calculations, export compliance management, currency conversions,
international payment options inclusive of language translation,
shopping cart management and fraud protection.
Financial terms of the deals weren't provided.
Pittsburgh-based Genco, with more than 130 warehouse locations,
has customers in technology, consumer, industrial, retail and
health-care markets. Its services include contract packaging,
processing returned items, warehousing, transportation services and
inventory liquidation.
FedEx has seen its revenue grow recently as a restructuring that
began in 2012 has started to pay off. For its latest quarter, FedEx
reported earnings and revenue that beat Wall Street's expectations,
driven by strength in ground, freight and express operations.
Write to Tess Stynes at tess.stynes@wsj.com
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