SpeedX Expands into Airfreight with Acquisition of Accelerated Global Solutions (AGS)
In a strategic move to expand its capabilities in the airfreight sector, tech-enabled last-mile delivery platform SpeedX has acquired Accelerated Global Solutions (AGS), a prominent freight forwarder.
This acquisition brings together SpeedX’s last-mile delivery strengths with AGS’s expertise in freight forwarding, customs brokerage, and warehousing solutions.
“I’m proud to announce the acquisition of AGS and begin collaborating with its exceptional team,” said Chris Zheng, Founder and CEO of SpeedX. “AGS has achieved impressive growth, with revenues breaking key milestones and a consistent annual growth rate of 50%.”
AGS, with over 300 employees and locations across North America, serves a wide range of industries, including fast fashion, automotive, healthcare, tech, metals, and seafood perishables.
Its warehousing facilities span key locations such as New York, Los Angeles, Miami, Chicago, and Toronto, positioning SpeedX to offer a fully integrated service from factory to front door.
Expansion Goals and $1B Target
Zheng, now also President and CEO of AGS, aims to build a $1 billion end-to-end supply chain enterprise within the next 18 months. This vision includes expansion into Southeast Asia, Australia, and the EMEA region by 2025.
“With the international logistics landscape evolving, our combined resources will address growing customer needs with agility, technology-driven efficiency, and a commitment to reliability,” Zheng added. “Together, SpeedX and AGS are set to redefine the possibilities in logistics.”
The companies will continue to operate as separate brands, but combined operations are expected to yield over $500 million in revenue in 2024.
This move also strengthens SpeedX’s domestic air zone-skipping program, delivering faster and more economical shipping solutions across the U.S., Canada, Puerto Rico, and Alaska.
