I am extremely pleased to tell you that we have just publicly announced that we have agreed to acquire UTi.
We have had our eye on UTi as an excellent match for DSV for some time. Today, the Board of Directors and I are proud and hopeful that another milestone in the history of DSV might soon be a reality.
Combining UTi with DSV will add 50% on top of the existing revenue, which will put DSV in Top 4 among global freight forwarders and create one of the world’s strongest transport and logistics networks. In addition, our global market position within Air & Sea will be significantly strengthened; and we will expand our geographical and business mix to include global contract logistics and road freight operations outside Europe.
With the acquisition, we are also very pleased to welcome 21,000 employees from UTi. Our new colleagues bring with them skills and competencies that we are eager to get on board – and I look forward to welcoming them.
A presentation outlining the combination of DSV and UTi can be downloaded here
A first great step towards a combination of DSV and UTi
The agreement is now subject to the approval of UTi shareholders and various authorities. The transaction process, if successful, is expected to be completed in Q1 2016.
In the meantime, we go about business as usual. While the transaction process is taking place, interaction with UTi is not allowed, which means that no talks or steps towards integration of the two companies can take place before completion. This goes for all employees of DSV.
To managers with employees without access to DSV Central: Please communicate the content of this announcement as soon as possible.
Sincerely,