SingPost acquires Novation Solutions
The completed acquisition is part of SingPost’s strategy to grow its digital and hybrid mail business.
The full-service security printing, document management and transaction mail provider in Hong Kong is now a wholly-owned subsidiary of Singapore Post Limited following the entry of DataPost Pte Ltd into a share purchase agreement with Secured Financial Services Limited for the purchase of the entire 100 percent stake in Novation Solutions Limited.
Novation’s core services are document printing, which includes security and commercial printing and print-related services, comprising variable-data print and electronic direct marketing services. Besides Hong Kong, Novation is also present in China.
The sale was worth approximately S$12.7 million.