Geodis has acquired IBM’s internal global logistics operations for an undisclosed sum in an all-cash deal and signed a multi-year outsourcing contract to become the sole lead logistics provider for IBM.
Under the agreement, Geodis will manage around one billion euros a year of IBM’s logistics costs, supporting asset recovery services, service parts logistics and flow management of all hardware and software products worldwide.
The move is part of Geodis’ global expansion strategy, in which it aims to move from a European multi services company to a worldwide logistics provider. Since 2007 it has strengthened its position in the Americas and is expanding in China, India and Russia.
The transaction is expected to start operaing in the first quarter of 2009.
Source: Supply Chain Standard
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