Jayud Global Logistics Announces Entry Into The North American Market With The Acquisition Of 51% Controlling Interest In HYTX Warehouse Inc, Further Expansion Addresses Expected Global E-Commerce Logistics Growth Of Over 10% Per Year; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Jayud Global Logistics Limited (NASDAQ:JYD) has announced the acquisition of a 51% controlling interest in HYTX Warehouse Inc, marking its expansion into the North American logistics market. This move is aimed at capitalizing on the expected global e-commerce logistics growth of over 10% per year. The acquisition is performance-based, with payment to be made partly in cash and partly in Jayud ordinary shares in 2027. This strategic acquisition positions Jayud to benefit from the booming e-commerce and air cargo demand, with HYTX's expertise expected to enhance Jayud's logistics services.
April 30, 2024 | 12:08 pm
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Jayud Global Logistics' acquisition of HYTX Warehouse Inc represents a significant expansion into the North American market, aiming to leverage the booming e-commerce logistics sector. This strategic move is expected to enhance Jayud's service offerings and operational efficiencies, positioning it for growth in a rapidly expanding market.
The acquisition of HYTX Warehouse Inc by Jayud Global Logistics is directly aimed at expanding its footprint in the lucrative North American logistics market, tapping into the expected growth of the global e-commerce logistics sector. Given the performance-based nature of the acquisition and the strategic alignment with Jayud's operational goals, this move is likely to be viewed positively by investors, potentially leading to a short-term uptick in JYD's stock price. The integration of HYTX's expertise and customer base into Jayud's operations is expected to enhance operational efficiencies and service offerings, further supporting growth prospects.
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