By Denny Jacob

United Parcel Service agreed to acquire software and reverse logistics company Happy Returns from PayPal.

Terms of the deal weren't disclosed.

The Atlanta-based company said the acquisition is expected to close in the fourth quarter.

UPS Chief Executive Carol Tomé said that by combining Happy Returns' digital experience with the package-delivery company's small package network and brick-and-mortar locations, label-free returns will soon be available at thousands of locations in the U.S.

The disclosed acquisition comes nearly a month after UPS said it would acquire MNX Global Logistics, bolstering its healthcare products distribution operations. Financial terms of the deal also weren't disclosed, but UPS said at the time the deal is expected to close by the end of the year.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

October 25, 2023 16:55 ET (20:55 GMT)

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