FedEx Acquires E-Commerce Firm Bongo International
FedEx Corp. has acquired cross-border, online-purchase technology company Bongo International to enhance its portfolio of e-commerce solutions. Terms were not disclosed.
Bongo, based in St. Petersburg, Florida, provides international payment options, online shopping cart management, currency conversion and tax calculations, as well as export-compliance management.
The firm will operate as a subsidiary of FedEx Trade Networks.
“We anticipate global e-commerce to continue on a double-digit growth trajectory,” T. Michael Glenn, FedEx executive vice president of market development and corporate communications, said in a statement.
“Bongo International’s end-to-end, cross-border enablement capabilities will greatly enhance the FedEx portfolio of global e-commerce solutions and provide customers with unmatched flexibility to establish and expand their international business and customer base,” Glenn said.
Bongo has a base of more than 2,000 retailers in Europe, the United Kingdom and the United States, and, according to FedEx, offers cross-border services for about 200 countries.
“Our knowledge and experience within the evolving cross-border enablement environment, as well as our customer-centric culture, is a perfect fit with FedEx. We’re excited about joining the FedEx family,” Bongo CEO Craig Turnbull said in a statement.
“Our collective cross-border and transportation solutions will catapult our customers’ global e-commerce business capabilities,” he added.
FedEx ranks No. 2 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
Very exciting day here at @BongoUS! We've been acquired by @FedEx! #globalecommerce http://t.co/96U4iBDPze — Bongo International (@BongoUS) December 16, 2014
