Singapore Post Limited (SingPost) has purchased an additional 17.91 per cent of the equity in eCommerce cross-border solutions provider, Shenzhen 4PX Information Technology Co. Ltd (4PX). The deal worth RMB163.16 million (US$25 million) will see SingPost, through its wholly-owned subsidiary Quantium Solutions International (QSI), increase its equity interest in 4PX from 18 per cent to 35.91 per cent.
Headquartered in southern China’s Pear River Delta region, 4PX is one of China’s top eCommerce cross-border solutions providers, serving more than 20,000 merchants in more than 50 locations in China and globally. The capabilities that 4PX offers its customers include logistics (warehousing, express delivery and freight forwarding) as well as software and consulting services for eCommerce 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 eCommerce logistics solutions and to leverage on the rapid growth in China’s eCommerce activities.”
Kevin Li, founder and chairman of 4PX, added: “SingPost’s additional investment in 4PX will help 4PX to enhance its overseas operations. It will also provide China cross-border eCommerce merchants and consumers with better eCommerce logistics solutions and services, as well as propel 4PX to become the market leader in China cross-border eCommerce.”
Formed in 2004, 4PX has more than 2,600 employees and operates warehouses in China, Australia, UK, Germany and the US.