Best Logistics, an operator of warehouses and distribution centers serving China's ecommerce industry, has reportedly raised $760 million in a round led by CITIC Private Equity and including Cainiao Smart Logistics Network, an affiliate of Alibaba (NYSE: BABA). The Wall Street Journal reported in January that Best Logistics was seeking to raise $700 million ahead of a planned IPO.
It's not only in China that the BPO business is booming. Worldwide, activity in the outsource services sector is on the rise in 2016, according to the PitchBook Platform. Between 2012 and 2015, deal count in the space never fell below 55 nor rose above 59; so far this year, 47 deals have already closed, comfortably on pace for a five-year high.