DP World acquires logistics firm Syncreon in $1.2 billion deal

FILE PHOTO: The corporate logo of DP World is seen at Jebel Ali Port in Dubai, United Arab Emirates, December 27, 2018. REUTERS/Hamad I Mohammed/File Photo

DUBAI (Reuters) – Dubai state-owned port operator DP World said on Thursday it had acquired U.S.-based global logistics firm Syncreon for an enterprise value of $1.2 billion.

Syncreon, which provides warehouse management, transport management, export packing, and fulfilment, has a presence in 19 countries across 91 locations, DP World said, adding that the acquisition would be funded from existing available resources.

The deal, subject to customary completion conditions, is expected to close in the second half of the year.

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