Singapore Post Limited (SingPost) has acquired a majority equity stake of 71.1 percent in Jagged Peak, a US-based eCommerce logistics enabler for high-velocity consumer products for US$15.8 million (S$22.5 million).
Following this announcement, SingPost's eCommerce footprint will then expand globally, linking the continents of Asia, Australia, continental North America and Europe.
Jagged Peak's eCommerce logistics platform, utilised by more than 20 warehousing facilities across the US, Canada and Europe, will enable SingPost to become a truly global eCommerce logistics provider for high-velocity consumer products.
The proposed acquisition will enable SingPost to support customers globally and move products more efficiently to consumers by implementing Jagged Peak's Flexnet technology. There is also opportunity to realise synergies by leveraging Jagged Peak's omni-channel eCommerce and order management platforms.
SingPost intends to invest in Jagged Peak's eCommerce logistics infrastructure, processes and technology to help customers maximise their business potential globally. SingPost's now global eCommerce logistics and technology infrastructure will enable SingPost customers to grow not only across Asia Pacific but expand into the US and beyond seamlessly with one eCommerce logistics solution provider.
"As SingPost pioneers and leads eCommerce logistics in Asia Pacific, we are casting our eyes beyond the region. Jagged Peak can enable end-to-end fulfilment of eCommerce orders across the US and SingPost is excited about this capability. This transaction is also part of our strategy to focus our resources on strengthening our geographical reach and the technology we employ as an eCommerce logistics company," said Lim Ho Kee, Chairman of SingPost.
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