Quadient sells software unit ProShip
Quadient (formerly Neopost) has sold its multi-carrier shipping software subsidiary ProShip to Canadian firm FOG Software Group.
Quadient sold US-based ProShip, which has about 100 employees, for US$15 million. The acquisition of ProShip by FOG Software will benefit employees and customers of both companies.
The divestment comes as a result of Quadient’s decision to refocus its operations on four major solutions: Customer Experience Management, Business Process Automation, Mail-Related Solutions and Parcel Locker Solutions.
The sale of ProShip means the French group has earned more than $90 million through divestments since January 2019, while having spent more than US$100 million on acquisitions.
CEO Geoffrey Godet explained: “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,” he emphasised.