Chinese business-to-business e-commerce firm Alibaba.com Limited has entered into an agreement to acquire Shenzhen One-Touch Enterprise Service Limited, a provider of one-stop services for exporters in China, for an undisclosed sum.
“Against the backdrop of slower growth of exports and narrowing profit margins for exporters in China, we felt the obligation to help our customers stay competitive and enhance margins,” said David Wei, chief executive officer of Alibaba.com. “This acquisition underscores what we mean by ‘Work at Alibaba.’ One-Touch will bring a lot of synergies to our business and enhance our members’ user experience by reducing the time and money they spend managing their export process and procedures.”
One-Touch is a provider of comprehensive export-related services tailored to the needs of small and medium-sized enterprises in China, including customs clearance, logistics, cargo insurance, currency exchange, tax refund, financing and certification. With the acquisition of One-Touch, Alibaba.com says it not only gains a strong management and operating team, but also expects to improve the stickiness of its website by adding to the range of export-related value-added SME services available to members in the whole transaction chain.
Services including those from One-Touch will be available through the China Gold Supplier 2011 edition.
Alibaba.com did not state the exact date of closing for this transaction.