New Zealand Post sells Converga
New Zealand Post has sold its wholly-owned subsidiary Converga to Canon Australia, as part of its drive to focus more on its core parcels, mail and financial services businesses. Converga, which specialises in business process outsourcing and has offices in Australia, New Zealand, Asia and the United States, was sold for an undisclosed sum.
“New Zealand Post is focussed on its parcels, mail and financial services businesses in New Zealand. Converga’s strategic fit within the Group was reassessed and we indicated we were looking to sell the company earlier this year,” said Brian Roche, Chief Executive, New Zealand Post Group.
“For Converga’s staff, customers and suppliers, it will be business as usual. We anticipate a smooth transition of ownership to Canon Australia,” said Roche.
Canon Australia said Converga would remain a stand-alone business, with the same management team and structure.
“Converga is a fantastic company that we intend to invest in, and grow, long into the future,” said Yusuke Mizoguchi, Managing Director, Canon Oceania.
New Zealand Post said that it “will continue to work closely with Converga as a client of its document and business management services”.
Local media reported that Converga has been making profits but lost a major customer earlier this year. However, company sources reportedly said that this had not been factor in the sale.
