Cheetah Net Supply Chain Service Inc. Acquires Edward Transit Express Group Inc.

Cheetah Net Supply Chain Service Inc. (Nasdaq: CTNT) signed a definitive agreement to acquire Edward Transit Express Group Inc., a California-based non-vessel operating common carrier specializing in ocean and air consolidation and warehousing. The deal includes $300,000 in cash plus share consideration valued at approximately $1.2 million, will give Cheetah 100% ownership, and is expected to close within 20 calendar days; Cheetah said the acquisition will reduce operating overhead and enable it to offer logistics and warehousing services to third-party parallel-import dealers.