FedEx has acquired P2P Mailing Ltd, an e-commerce delivery company based in the UK, for £92 million.
P2P Mailing provides e-commerce transportation solutions, working with last mile delivery partners to help retailers reach customers worldwide.
The company will serve as a subsidiary of FedEx Cross Border, which focuses on e-commerce technologies and is part of FedEx Trade Networks.
"Global e-commerce continues to grow at a rapid pace," said Carl Asmus, president and CEO of FedEx Cross Border, "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.
"By adding P2P to the FedEx portfolio, we will be able to effectively serve even more elements of the e-commerce market."
(Source: Mergers & Acquisitions)
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