FedEx Expanding E-Commerce Capabilities with Acquisition of P2P
March 27 2018 - 8:45AM
Business Wire
A leader in last-mile delivery solutions, P2P
expands the FedEx global portfolio
FedEx Corp. (NYSE:FDX) announced today that it has acquired P2P
Mailing Limited, a leading provider of worldwide e-commerce
transportation solutions, for £92 million. P2P’s capabilities
complement and expand the FedEx portfolio of offerings important to
the rapidly growing global e-commerce marketplace.
P2P provides customers with unique last-mile delivery options,
leveraging its relationships with private, postal, retail and
clearance providers in over 200 countries. Its industry-leading
technology and processes provide plug-and-play options with carrier
networks and customer systems.
P2P is headquartered in Laindon, United Kingdom and will operate
as a subsidiary of FedEx Cross Border within the FedEx Trade
Networks operating company.
“Global e-commerce continues to grow at a rapid pace, and more
and more merchants, marketplaces, e-commerce and social platforms
are looking for innovative, cost-effective ways to get merchandise
from distribution points in one country to customers in another,”
said Carl W. Asmus, president and CEO, FedEx Cross Border. “By
adding P2P to the FedEx portfolio, we will be able to effectively
serve even more elements of the e-commerce market.”
“This acquisition is a further step in achieving the global
mission of the FedEx Trade Networks group to provide specialized
solutions to customers,” said Richard W. Smith, president and CEO,
FedEx Trade Networks, Inc. “We are pleased to welcome the P2P team
members into the FedEx family of companies and look forward to
combining the talents of both teams to contribute to our continued
success.”
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 $64 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 425,000
team members to remain “absolutely, positively” focused on safety,
the highest ethical and professional standards and the needs of
their customers and communities. To learn more about how FedEx
connects people and possibilities around the world, please visit
about.fedex.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180327005734/en/
FedEx Corp.Patrick Fitzgerald, 901-818-7300
FedEx (NYSE:FDX)
Historical Stock Chart
From Aug 2024 to Sep 2024
FedEx (NYSE:FDX)
Historical Stock Chart
From Sep 2023 to Sep 2024