New Zealand Post Group has sold its wholly-owned subsidiary the ECN Group to Australian business solutions company B2BE.
The ECN Group develops and supplies software that supports business-to-business messaging, the management of supply chain systems and integration. ECN's products enable collaboration between supply chain partners, and create real-time supply chain visibility. Its 60 staff are located in Auckland, Wellington, Australia and the Philippines.
NZ Post has owned the business for ten years, but said in a press release announcing the sale that ECN is “no longer a strategic fit for the Group”.
“New Zealand Post Group's primary areas of focus are New Zealand based postal, courier, financial and digital services,” says external communications manager John Tulloch.
B2BE has purchased ECN as a going concern, and officially assumed its new role as owner on August 8.
Tulloch refuses to disclose the sale price, saying that it is commercially sensitive.