Transportation and Logistics Systems Inc. (TLSS) (OTC: TLSS) announced Monday it entered into an agreement on Tuesday to acquire all of the outstanding shares of SalSon Logistics. The Jupiter, Florida-based e-commerce fulfillment provider said the $90 million purchase price includes $50 million in cash, 19.9% of TLSS stock and $20 million in seller financing.
The stock purchase agreement would net TLSS a 60-year-old third-party logistics company that is expected to “anchor” its growth strategy.
“T...