SingPost to sell U.S. eCommerce businesses following strategic review
SINGAPORE, 3 April 2019 – Singapore Post Limited (“SingPost”) announced today that following a strategic review of its U.S. eCommerce businesses, it will commence a sale process of Jagged Peak and TradeGlobal.
SingPost believes its strengths and strategic competitive advantages are in Southeast Asia and Asia Pacific, which provides attractive growth opportunities.
Mr Paul Coutts, Group Chief Executive Officer of SingPost, said: “Arising from the strategic review, we will step up our investment to better serve our home market in Singapore, as well as leverage our competitive advantages in Asia-Pacific.”
SingPost will make further announcements as appropriate on the exit.
SingPost’s non-U.S. business units will not be affected by the divestment.
About Singapore Post Limited
For more than 160 years, Singapore Post (SingPost) as the country’s postal service provider, has been delivering trusted and reliable services to homes and businesses in Singapore.
Today, SingPost is pioneering and leading in eCommerce logistics as well as providing innovative mail and logistics solutions in Singapore and around the world, with operations in 19 markets.
Building on its trusted communications through domestic and international postal services, SingPost is taking the lead in end-to-end integrated and digital mail solutions. The suite of SingPost eCommerce logistics solutions includes front end web management, warehousing and fulfilment, last mile delivery and international freight forwarding.
TradeGlobal, a subsidiary of Singapore Post Limited, is a leading end-to-end eCommerce provider, delivering best-in-class solutions to the world’s most recognizable fashion, beauty and lifestyle brands. Unifying website development, digital marketing strategies, creative services, omnichannel order management, fulfillment, logistics and customer care across domestic and international boundaries, TradeGlobal provides the technologies and operations that empower businesses of all sizes to evolve and expand. For more information, visit www.tradeglobal.com.
About Jagged Peak
Jagged Peak, a subsidiary of Singapore Post Limited, is a global, end-to-end eCommerce solutions provider with software and services that enhance the scalability and profitability of omnichannel businesses. Its full-featured eCommerce Platform (ECP) and robust Order Management System (OMS) can be deployed alone or coupled with a Warehouse Management System (WMS) and Transportation Management System (TMS) to form a shop-to-ship, cloud-based software suite that integrates the entire order life cycle with visibility across business units and distribution channels. Combining this best-in-class technology with customer support, digital agency, fulfillment, merchant of record, cross-border and marketplace management services, Jagged Peak offers a uniquely holistic approach to eCommerce. For more information, visit www.jaggedpeak.com.
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