FedEx

FedEx Corporation is an American global courier delivery services company headquartered in Memphis, Tennessee. The name "FedEx" is a syllabic abbreviation of the name of the company's original air division, Federal Express, which was used from 1973 until 2000.

The company has expanded from its original focus on ground and air-based services to include home delivery options and a retail division. Internationally, the company primarily competes with DHL Express, UPS and TNT Express.

In April 2015, the company reached an agreement to purchase its Dutch rival TNT Express, subject to regulatory and shareholder approval. The acquisition is expected to be completed in the first half of 2016.

History

Formation

FedEx Corporation is an import/export company, incorporated October 2, 1997 in Delaware. FDX Corporation was founded in January 1998 with the acquisition of Caliber System Inc. by Federal Express. With the purchase of Caliber, FedEx started offering other services besides express shipping. Caliber subsidiaries included RPS, a small-package ground service; Roberts Express, an expedited shipping provider; Viking Freight, a regional, less than truckload freight carrier serving the Western United States; Caribbean Transportation Services, a provider of airfreight forwarding between the United States and the Caribbean; and Caliber Logistics and Caliber Technology, providers of logistics and technology solutions. FDX Corporation was founded to oversee all of the operations of those companies and its original air division, Federal Express.