Quadient pursues the execution of its strategy with the sale of ProShip
Paris, March 2, 2020
Quadient, formerly Neopost1, a leader in helping businesses create meaningful customer connections through digital and physical channels, today announced the sale of its subsidiary, ProShip, a global provider of automated multi-carrier shipping software, to FOG Software Group, a division of Constellation Software, Inc, a company listed in Toronto (TSX: CSU).
The divestment of ProShip comes as a result of Quadient’s decision to refocus its operations on four major solutions.
The acquisition of ProShip by FOG Software will benefit employees and customers of both companies.
Geoffrey Godet, Chief Executive Officer of Quadient, commented: “The sale of ProShip is our third divestment since January 2019. In the meantime, we successfully acquired Parcel Pending in the US and decided to shut down Temando. This demonstrates our firm commitment to reshape Quadient’s portfolio as part of our “Back to Growth” strategy. The execution of our strategic plan is progressing in a satisfactory way. Sales have been growing organically in the last six quarters and the high level of recurring revenue will continue to provide a solid base for our future performance.”
The transaction was closed on 28 February 2020. The selling price stands at USD 15 million.
With this transaction completed, Quadient achieved more than USD 90 million in divestments since January 2019, while having dedicated more than USD 100 million in acquisition.
Headquartered in Brookfield, Wisconsin, ProShip has about 100 employees and belonged to Quadient Additional Operations reporting segment.
The Quadient press release announcing fourth-quarter 2019 sales and 2019 results will be published on March 30, 2020 after market close.
Quadient, formerly Neopost, is the driving force behind the most meaningful customer experiences. By focusing on four key solution areas including Customer Experience Management, Business Process Automation, Mail-Related Solutions, and Parcel Locker Solutions, Quadient helps simplify the connection between people and what matters. Quadient supports hundreds of thousands of customers worldwide in their quest to create relevant, personalized connections and achieve customer experience excellence. Quadient is listed in compartment B of Euronext Paris (QDT) and belongs to the SBF 120 index.
For more information about Quadient, visit http://www.quadient.com.
|Gaële Le Men, Quadient |
Financial Communications Director
+(33) 1 45 36 31 39
|OPRG Financial |
Isabelle Laurent / Fabrice Baron
+33 (0)1 53 32 61 51 /+33 (0)1 53 32 61 27
1 The legal name Neopost S.A. will be changed into Quadient S.A. in 2020 during the next AGM. In the meantime, Neopost S.A. will operate under the commercial name Quadient