Tokyo-based Japanese outsourcing firm TransCosmos inc. has acquired 20% of Shanghai-based Chinese eCommerce logistics outsourcing company FineEx, according to a company announcement.
TransCosmos bought the stake through third-party allotment. As part of the deal, the two companies have agreed to form a business and financial partnership.
The valuation of the acquisition is not disclosed.
Shanghai Vstone Capital invested an undisclosed amount of money in FineEx in November 2011.
The deal will allow TransCosmos to provide additional warehouse and logistic services to its largest customer, Taobao.
TransCosmos entered a strategic partnership with Taobao in 2009, and has been offering outsourcing services in research, website development and management, customer service and order management through its Shanghai subsidiary.
"China’s eCommerce market has a 40% growth every year," says FineEx CEO, Li Pingyi. "Through this partnership…FineEX will be able to explore eCommerce business…in the Western, Japanese, Korean and Chinese regions."
Established in 2006, FineEx owns delivery centers with a total working area of 44,000 square meters in Shanghai, Guangzhou, Hangzhou and Beijing.
Established in 2008, Shanghai Vstone Capital is an asset management, private equity and advisory firm with RMB10 billion under management.