MANILA, Philippines - Memphis-based FedExp Corp. has acquired TNT Express NV for €4.4 billion ($4.9 billion), aimed at expanding its portfolio and reshaping the global transportation and logistics industry.
“This acquisition is a significant accomplishment and marks the beginning of a new era, filled with promise for our people, customers and shareowners,” said Frederick W. Smith, chairman and chief executive officer of FedEx.
“We 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,” he said.
“The timing of this historic event is important, particularly in the current market environment where global e-commerce is growing at double-digit rates,” Smith said adding that “TNT’s capabilities to our existing world-class suite of services, including GENCO and the recently relaunched FedEx CrossBorder, will further expand the ability of FedEx to support business connections around the world.”
FedEx said its track record of successful acquisition integrations in the US and globally will serve the combined companies well to leverage investments in technology, infrastructure, facilities and operational capabilities to position the combined companies for long-term growth and success.