Singapore Post Acquiring Majority Stake in Jagged Peak
Singapore Post Limited has announced it will acquire the majority of the outstanding stock of Jagged Peak, Inc., an ecommerce solutions and software provider.
With the acquisition Singapore Post gains access to Jagged Peak’s EDGE ecommerce platform, which includes order management, warehouse management, and transportation management components.
Singapore Post provides that country’s postal services as well as ecommerce logistics solutions in Singapore and 15 countries in the Asia Pacific.
The founders of Jagged Peak, Paul Demirdjian and Primrose Demirdjian, will retain a 29 percent stake in the merged entity.
“Singapore Post’s investment in Jagged Peak is evidence of a new era of ecommerce where global infrastructure and ecommerce fulfillment needs are becoming the new norm”, said Paul Demirdjian, Jagged Peak’s CEO. “This merger is an exciting opportunity that will allow us to provide retailers and consumer brands with an end-to-end worldwide solution.”
“As Singapore Post pioneers and leads ecommerce logistics in Asia Pacific, we are casting our eyes beyond the region,” said Lim Ho Kee, chairman of Singapore Post. “Jagged Peak can enable end-to-end fulfilment of ecommerce orders across the U.S. Singapore Post 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.”
“This acquisition will connect the dots and make our ecommerce logistics network global,” said Wolfgang Baier, group CEO of Singapore Post. “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 U.S. but expand these services into our Asia Pacific warehouse network. We have planted the seeds with this investment of what will be Singapore Post’s global multi-channel ecommerce logistics platform.”
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