The UAE company Aramex said that it is in the process of completing the procedures for acquiring My Us, indicating that the necessary approvals are being obtained from the regulatory authorities to complete the acquisition process.
The company said in a statement published by CNBC Arabia today, Wednesday, that Aramex's acquisition of My Eye will have a total value of about $265 million, to be paid in full in cash.
As a result of this acquisition, the MyS platform will be fully integrated into the Aramex business to form a business unit within the company's express services segment.
The MyS platform will retain its branding and form a natural complement to Shop and Ship, Aramex's platform that provides its subscribers with solutions for e-commerce transactions and delivery to the final destination.
The new acquisition of MyS will support the cross-border express services business of the UAE company Aramex.
