Singapore Post has entered into an agreement to acquire a 71.1% stake in Jagged Peak, Inc for US$15.8 million ($22.5 million).
The acquisition takes Singpost a step close to building an end-to-end e-commerce logistics network and technology platform.
Singpost saus Jagged Peak’s proprietary e-commerce logistics platform, used by more than 20 warehousing facilities across the US, Canada and Europe, will enable Singpost to become a global e-commerce 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.
Singpost also intends to invest in Jagged Peak’s e-commerce logistics infrastructure, processes and technology to help customers maximise their business potential globally.
“This acquisition will ‘connect the dots’ and make our eCommerce logistics network global. The acquisition of Jagged Peak allows us to use their state-of-the-art eCommerce omni-channel technology to enable brands and retailers not only to leverage their warehouse facilities in over 20 locations in the US but expand these services into our Asia Pacific warehouse network. A win-win for existing and future customers. We have planted the seeds with this investment of what will be SingPost’s global multi-channel B2B4C eCommerce logistics platform,” says Dr Wolfgang Baier, Group Chief Executive Officer of Singpost.
For the fiscal year ended December 2014, Jagged Peak reported revenues of US$61.7 million.
Singpost closed 1.1% higher at $1.78 on Friday.
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The acquisition takes Singpost a step close to building an end-to-end e-commerce logistics network and technology platform.
Singpost saus Jagged Peak’s proprietary e-commerce logistics platform, used by more than 20 warehousing facilities across the US, Canada and Europe, will enable Singpost to become a global e-commerce 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.
Singpost also intends to invest in Jagged Peak’s e-commerce logistics infrastructure, processes and technology to help customers maximise their business potential globally.
“This acquisition will ‘connect the dots’ and make our eCommerce logistics network global. The acquisition of Jagged Peak allows us to use their state-of-the-art eCommerce omni-channel technology to enable brands and retailers not only to leverage their warehouse facilities in over 20 locations in the US but expand these services into our Asia Pacific warehouse network. A win-win for existing and future customers. We have planted the seeds with this investment of what will be SingPost’s global multi-channel B2B4C eCommerce logistics platform,” says Dr Wolfgang Baier, Group Chief Executive Officer of Singpost.
For the fiscal year ended December 2014, Jagged Peak reported revenues of US$61.7 million.
Singpost closed 1.1% higher at $1.78 on Friday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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