Tech-enabled last mile delivery platform SpeedX has delved into airfreight with the acquisition of freight forwarder Accelerated Global Solutions (AGS).
AGS brings a range of services to SpeedX, including international air and ocean freight forwarding, warehousing solutions and licensed customs brokerage.
With over 300 employees, AGS serves the fast fashion, automotive, healthcare, tech, metal and seafood perishables sectora, as well as e-commerce marketplaces, direct retailers, and wholesalers.
AGS also operates major 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.
Terms of the purchase were not disclosed and both of the New York-based companies will continue to operate as separate businesses. In 2024, SpeedX and AGS are expected to report revenues of more than $500m.
The acquisition builds on a two-year collaboration between the companies. Founder and chief executive of SpeedX, Chris Zheng has now become president and chief executive of AGS, which was previously owned by business entrepreneur, David Lu.
Zheng now aims to build a $1bn end-to-end supply chain enterprise within 18 months and and expand AGS internationally.
By uniting AGS’s freight forwarding, customs brokerage, and middle-mile expertise with SpeedX’s last-mile delivery capabilities, this collaboration is expected to delivers immediate expansion opportunities for SpeedX’s domestic air zone-skipping programme, providing clients across the US, Canada, Hawaii, Puerto Rico, and Alaska with faster, more economical shipping solutions.
“I’m proud to announce the acquisition of AGS and begin collaborating with its exceptional team,” said Zheng. “AGS has achieved impressive growth, with revenues breaking key milestones and a consistent annual growth rate of 50%.
“In 2025, we’re expanding into Southeast Asia, Australia, and the EMEA region while executing an ambitious M&A strategy. By harnessing our combined strengths, we’ll identify new market opportunities, elevate our service offerings, and drive sustained growth.”
He added: “With the international logistics landscape evolving, our combined resources will address growing customer needs with agility, technology-driven efficiency, and a commitment to reliability.
“Together, SpeedX and AGS are set to redefine the possibilities in logistics, poised to surpass $1 billion in business within 18 months and propel our international growth.”
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