UPS: technology platform acquisition to “open doors for new growth opportunities”
UPS customers, including large enterprises, are increasingly looking for local same-day delivery solutions for goods of all types, not traditional packages. Roadie often provides service for shipments not compatible with the UPS network because of their size and perishable nature, and often because they are in shopping bags without the packaging required to move through the UPS system.
Roadie’s leading technology, combined with UPS’s portfolio, will open doors for new growth opportunities. Roadie’s technology platform also will provide opportunities to improve existing, and potentially add additional, UPS small package capabilities. The Roadie technology platform is purpose-built to connect merchants and consumers with contract drivers to enable efficient and scalable same-day local delivery services nationwide.
Following the completion of the acquisition, Roadie will operate with the same name, providing the same great service to its customers. UPS package car drivers will continue to deliver packages within the UPS network. Goods transported by Roadie will not cross into the UPS network and packages transported in the UPS network will not cross into the Roadie network.
The companies are not disclosing the value of the transaction. The transaction is expected to close in the fourth quarter of 2021.