- 12 October 2015
- Transport / Logistics Services
Singapore Post (SingPost) has bought a 71.1% stake in US e-commerce logistics provider Jagged Peak in a deal worth USD $15.8 million. The family that set up the company, the Demirdjians, will retain a 28.9% stake.
Jagged Peak provides e-commerce logistics services for high velocity consumer products. The Edge platform comprises of an Order Management System, Warehouse Management System, and Transport Management System. The e-commerce platform is used at 20 warehousing facilities in Canada, Europe and the US, and had revenues of $61.7 million at the end of the last financial year.
SingPost’s interests in the company enable the Asian multinational to expand Jagged Peak’s interests into Asia.
Last week SingPost announced that it had successfully trialled a delivery drone system, as the company looks to high technology solutions for its expanding global interests.