NZ Post is looking to divest itself of its stake in five small IT ventures in which it holds share interests ranging from 2% to more than 50%.
The companies were originally part of NZ Post’s ECN Group business “cluster”, formed last July under Ross Baker, who was appointed chief executive. The cluster has been cut back to four companies to focus on ECN’s core business, says NZ Post spokesman Ian Long.
The companies that now make up ECN Group are Electronic Commerce Network, MessageMedia, Infolink and Tedis.
As for the other former cluster businesses, discussions are currently being held with systems integrator Synapse about the future of NZ Post’s shareholding in it, and the relationships with Silent One, e-Media and the Dawson Group -– an Australian company -– are being reviewed.
NZ Post has already divested itself of its small interest in Marketboomer. Spokesman Ian Long said last year that the cluster together employed between 200 and 300 staff.
Two of the companies were based in Australia and it was speculated at the time that they might be used to introduce the other companies to the Australian market.
“We want to leverage whatever opportunities we can on both sides of the Tasman,” said Long.
The ECN Group was the successor to NZ Post’s new ventures group. At the time it was formed Long said it was an organisational structure and that NZ Post would be looking to contain some costs. This strategy doesn’t appear to have been particularly successful although Long declined to comment directly on this.