Left: SingPost’s wholly-owned subsidiary Quantium Solutions
Parcel and logistics services provider SingPost has purchased an additional 18% share in software developer Shenzhen 4PX Information Technology, bringing its total stake in the company up to 36%. SingPost purchased the additional shares for approximately US$36m.
The purchase of the additional shareholding of Shenzhen 4PX will be carried out through SingPost’s wholly owned subsidiary Quantium Solutions. 4PX is one of China’s top e-commerce cross-border solutions providers, serving more than 20,000 merchants in more than 50 locations around the world. The capabilities that 4PX offers its customers include logistics (warehousing, express delivery and freight forwarding) as well as software and consulting services for e-commerce sellers.
Goh Hui Ling, deputy CEO (International Mail) of SingPost, said, “The additional investment in 4PX, with its extensive logistics capabilities in warehousing, express delivery and freight forwarding, is a key part of SingPost’s strategy to strengthen our integrated end-to-end e-commerce logistics solutions and to leverage on the rapid growth in China’s e-commerce activities.”
Kevin Li, founder and chairman of 4PX, said, “SingPost’s additional investment in 4PX will help to enhance the company’s overseas operations. It will also provide China cross-border e-commerce merchants and consumers with better e-commerce logistics solutions and services, as well as propel 4PX to become the market leader in cross-border e-commerce in China.”
February 18, 2016