SingPost targets hybrid mail expansion with acquisition
Singapore Post Ltd is planning to expand its hybrid mail services in South-East Asia, after taking complete control of Singapore-based printing and mailing business DataPost. SingPost will make DataPost a wholly-owned subsidiary, it revealed this week, following its acquisition of a remaining 30% stake currently held by Netherlands-based printing firm Océ NV, which is part of the Japanese firm Cannon Group.
The deal has been agreed based on a S$6m (about EUR 3.5m).
DataPost provides end-to-end mailing services including printing, envelope insertion and despatching for customers ranging from banks and insurance companies to government agencies and utilities.
Set up in 1994, it currently has operations either directly or through joint ventures in Malaysia, Hong Kong, Thailand and the Philippines as well as its home base in Singapore.
SingPost CEO for postal and corporate services said: “With this acquisition, SingPost will have full control of DataPost and the flexibility to further develop our hybrid mail business in the region. We will be able to better support our regional customers with a wider suite of hybrid mail solutions.”
Océ chief executive Rokus van Iperen said: “We have decided to sell our stake in DataPost as we consider its activities too far removed from our current core business. As 100% subsidiary of Singapore Post Limited, DataPost may be better positioned to further develop its electronic printing and despatching services business.”
SingPost has been building up its business in the Asia-Pacific region through a number of acquisitions recently, including cross-border mail and logistics firm Quantium Solutions and US technology company Postea. Earlier this year it increased its stake in Malaysian express carrier GD Express to just over 27% of the firm.
