Singapore Post Limited (“SingPost”) announced today that following a strategic review of its US e-commerce businesses, it will commence a sale process of Jagged Peak and TradeGlobal. Singapore Post is yet to disclose any further information discussing the sale but has stated that the sale will allow the company to invest in its domestic market.
Jagged Peak is a global, end-to-end e-commerce solutions provider with software and services designed to enhance the scalability and profitability of omnichannel businesses.
TradeGlobal is an end-to-end e-commerce provider, delivering solutions to recognisable fashion, beauty and lifestyle brands.
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.”
Source: Singapore Post
