FedEx Corp. has acquired Bong International, an e-commerce shipping solutions provider, which provides its services to over 250,000 customers around the world.
“With a base of over 2,000 retailers across Europe, the UK and U.S., Bongo International is currently delivering cross border enablement solutions to more than 200 countries worldwide,” according to the announcement.
Bongo International specializes in duty and tax calculations, HS classification, compliance management, currency conversions, international payment options inclusive of language translation, shopping cart management and fraud protection, according to ecommercbytes.com. The company would operate as a subsidiary to Fedex’s trade network business.
“We anticipate global e-commerce to continue on a double digit growth trajectory,” said T. Michael Glenn, FedEx Corporation Executive Vice President, Market Development and Corporate Communications.
FedEx also recently acquired Pittsburgh based GENCO, one of the largest third-party logistics providers in North America with a $1.6 billion revenue.
According to the Wall Street Journal, FedEx has seen revenue growth after it began restructuring the company in 2012. The financial details of the deal with Bongo International, a privately held company, were not provided.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More