GoIP Global Inc. (GOIG) announced today, the signing of an additional asset purchase agreement to acquire substantially all of the assets of a privately-held transportation company that operates FedEx home and ground routes in the NYC area. This acquisition, as well as the previously announced acquisition, is subject to approval by FedEx. As previously stated, the purchase price of both acquisitions will be paid in cash and will not be dilutive to shareholders. The Company expects the acquisition to be immediately accretive.
The acquisition is part of GoIP's (to be renamed TransWorld Holdings) strategy to build a transportation division that is expected to provide strong and consistent cash-flow. The Company sees FedEx routes as opportunistic in today's changing "on demand," e-commerce economy. It is the Company's intention to acquire additional FedEx routes as it builds its transportation unit.
TransWorld's Board see tremendous opportunities in growing further into the e-commerce and "on-demand" economy. TransWorld's primary focus is to bring value to its shareholders.
About FedEx Routes
Many FedEx delivery routes are not actually owned by FedEx, but rather by small independent businesses. These businesses maintain a contract with FedEx which outlines the services to be provided by the contractor, standards required by FedEx, and the area the contractor is assigned (the zip code/route). FedEx pays these contractors on a weekly basis. These routes are divided between Line Haul, Ground and Home delivery services.
About GoIP Global/ TransWorld Holdings Inc.
TransWorld's mission is to operate as a profitable holding company operating in several business segments, initially including transportation, simple technology services, consumer goods and active investments. TransWorld's primary focus is to bring value to its shareholders by bringing last mile solutions in the ecommerce world. TransWorld is in the process of changing its name to TransWorld Holdings Inc. and will apply for a new symbol. To learn more, please visit www.transworldenterprises.com.
