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SpeedX owner buys Accelerated Global Solutions

[ November 4, 2024   //   ]

Chris Zheng, founder and chief executive of last-mile delivery specialist SpeedX has acquired New York City headquartered, Accelerated Global Solutions, for an undisclosed sum. The acquisition builds on a two-year collaboration between SpeedX and AGS, combining SpeedX’s last-mile delivery with AGS’s customs brokerage and freight forwarding services.

Both companies will continue to operate as separate, cooperating entities under their existing brands.

In his new role as president and chief executive of AGS, Zheng will build an integrated supply chain product suite.

SpeedX delivered its first parcel in November 2022 and now reaches over 9,000 zip codes and more than 150 million consumers across the US and CanadaIt expects to be delivering upwards of half a million parcels per day in 2025.

AGS operates warehouses and offices across North America, with key locations in New York, Chicago, Los Angeles, Miami, Atlanta, San Francisco, Portland, Dallas/Fort Worth, and Toronto.

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