DSV Acquires UTi Worldwide Inc.
DSV’s acquisition of UTi Worldwide Inc. has now been completed with the approval of UTi shareholders and competition authorities.
Jens Bjørn Andersen, CEO of DSV, comments: “We are proud to welcome customers and employees of UTi to DSV. I have no doubt that the combination of DSV and UTi is a recipe for success; and with our united network, we will create exciting opportunities for both customers and employees. We will now start the integration process while taking care to maintain a high service level towards all customers. The commercial activities of DSV and UTi will continue under the DSV brand as we move forward.”
The transaction makes DSV the fourth largest freight forwarder in the world by adding approximately 50% to DSV’s existing revenue. The transaction has also significantly strengthened DSV’s global market positioning them as the world’s 6th and 7th largest operator within ocean and air freight, respectively.