Amazon's Latest Acquisition Meant To Help Merchants Import Items

Amazon.com, Inc. AMZN confirmed it bought a technology startup called INLT to help merchants on its platform import goods.

What Happened

INLT employees operate out of Los Angeles and Philadelphia and creates software for sellers to manage costs and customs clearance of international shipments, according to Reuters. Amazon didn't disclose how much it paid to acquire the company, but did say it will provide INLT's cloud-based computing technology to its merchants.

Amazon is likely looking at INLT as an opportunity to offer merchants more services that can help simplify complex cross-border activity.

Why It's Important

INLT is a "smart" and "nimble" company that will play a role in developing "the next generation of solutions" for Amazon's customers and selling partners, an Amazon spokeswoman told Reuters.

INLT echoed a similar sentiment and said on its website it looks forward to with Amazon to "develop the next generation of solutions" for its current customers and Amazon's sellers.

INLT is not accepting new customers on its website and specific timing and pricing of its services under Amazon's umbrella is likely to be confirmed in the near term.

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Photo credit: Álvaro Ibáñez via Wikimedia