The purchase of UTi Worldwide makes Danish supply chain provider DSV the fourth largest global forwarder in terms of revenue.
Danish supply chain provider DSV said Friday it has finalized its $1.35 billion purchase of UTi Worldwide, which has struggled to earn a profit in recent years. The transaction adds about 50 percent in total revenue, making DSV the fourth largest freight forwarder in the world.
Earlier this week, DSV received antitrust approval from South Africa, the final nation to sign off on the all-stock deal.
The acquisition will expand its geographic footprint around the world and provides a complimentary client base, officials said.
The combined company now has 40,000 employees in more than 80 countries, more than 1,000 offices and warehouses and 4.7 million square meters of warehouse space under management.
The deal makes DSV a top 10 forwarder in ocean and air shipping, while expanding the scale of its contract logistics operation.
DSV said it expected to integrate Long Beach-based UTi quickly due to similarities in business, organization and culture.
DSV completes $1.35b UTi acquisition
