United Parcel Service (UPS.N) on Thursday said it is spending more than $1 billion this quarter to buy two companies it hopes will bolster profit and volumes amid bare-knuckled market share battles with delivery rivals like FedEx (FDX.N). The world’s biggest parcel delivery firm on Wednesday announced an agreement to buy Happy Returns from PayPal (PYPL.O), a deal that came roughly a month after it signaled its intent to purchase healthcare specialist MNX Global Logistics. The MNX deal will bolster UPS’s healthcare business that is on track to hit $10 billion this year, CEO Carol Tome said. UPS and FedEx also compete in that sector, which boasts some of the industry’s best margins.
Read the full article: UPS Targets Lucrative E-Commerce Returns, Healthcare with Acquisitions //