Singapore Post (SingPost) has entered into a US$15.8m agreement to acquire a 71% stake in Jagged Peak, a US-based e-commerce logistics enabler for high-velocity consumer products.
Jagged Peak’s e-commerce logistics platform Flexnet is used by more than 20 warehousing facilities across the USA, Canada and Europe. If completed, the deal will allow SingPost to offer e-commerce technology platforms and fulfillment services on the continents of Asia, Australia, continental North America and Europe.
Lim Ho Kee, chairman of SingPost, said, “As SingPost pioneers and leads e-commerce logistics in Asia-Pacific, we are casting our eyes beyond the region. Jagged Peak can enable end-to-end fulfillment of e-commerce orders across the USA. 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 e-commerce logistics company.”
Dr Wolfgang Baier, group CEO of SingPost, said, “This acquisition will ‘connect the dots’ and make our e-commerce logistics network global. The acquisition of Jagged Peak allows us to use their state-of-the-art e-commerce omni-channel technology to enable brands and retailers not only to leverage their warehouse facilities in over 20 locations in the USA, but also expand these services into our Asia-Pacific warehouse network. We have planted the seeds with this investment of what will be SingPost’s global multi-channel B2B4C e-commerce logistics platform.”
October 13, 2015