Aramex plans to buy a 25% stake in Dubai-based firm WS One Investment in its latest international M&A move.
The express and freight group said in a notice to the Dubai Stock Exchange that it will buy the stake for about AED 9 million. WS One Investment was described as providing cross-border mailbox consolidation services, operating out of Ohio, USA.
Separately, Aramex has launched in Botswana, southern Africa, through a joint venture with local firm Sprint Couriers, offering international and domestic express, as well as the Aramex Shop and Ship service, according to local media reports.
Last month the Middle East-based group announced a 10% rise in Q1 net profits and a 9% revenue increase, and reiterated its ambitions to continue acquiring specialist firms, especially in the e-commerce sector.
