Singapore Post, which counts Alibaba Group Holding as its second-biggest shareholder, has reached a deal to buy a little over 71% stake in Jagged Peak, Inc (Jagged Peak), a US eCommerce logistics enabler for high-velocity consumer products for $15.8 million.
The deal will see SingPost’s eCommerce footprint that includes its technology platforms and fulfilment service networks get a global footprint linking the continents of Asia, Australia, continental North America and Europe, the company said.
