Dubai – Mubasher: Aramex’s board approved the acquisition of 25% of WS One Investment LLC in a deal worth AED 9 million ($2.45 million), Aramex said in a bourse filing.

WS One Investment, which provides cross-border mailbox consolidation services, is based in Dubai but operates out of the US state of Ohio.

Aramex CEO Hussein Hashem previously told Mubasher in an interview that his company is targeting $100 million worth of investments in 2015 in the UAE and Saudi markets.

The package courier recently reported 10% growth in its net profits to AED 86.6 million in the first quarter of 2015, compared to AED 78.7 million in the same period in 2014.

Revenues increased by 9% to AED 930 million, compared to AED 852 million in Q1-14.