Mercado Livre (MELI), a leading Latin American E-commerce and financial services technology company, recently announced the acquisition of Kangu, a Brazilian logistics company. The financial terms of the deal have not been disclosed so far. Following the news, shares of the company appreciated marginally to close at $1,871.94 in Wednesday’s extended trade. Kangu’s buyout is in line with Mercado’s strategy of strengthening its logistics network. With over 5,000 collection and delivery points, Kangu serves a diverse range of companies and is expected to boost efficiency for Mercado’s sellers and offer faster deliveries to its thousands of customers.
https://www.tipranks.com/news/mercado-livre-acquires-kangu-street-says-buy?utm_source=advfn.com&utm_medium=referral
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