7th Sep 2015 10:20
LONDON (Alliance News) - Royal Mail PLC on Monday said it has acquired a stake in Australian e-commerce technology start-up Market Engine Global Pty Ltd for an undisclosed amount.
The FTSE 100-listed postal service operator said its investment in the company is part of its focus on building out its e-commerce operations and follows from its recent investment in personal shoppping app Mallzee and the acquisition of e-commerce technology company Storefeeder in February 2015.
Market Engine provides a market management system which allows businesses to manage their online retail presence across different regional markets.
"We think we can leverage our scale and expertise to help Market Engine expand and accelerate its entrance into new markets, while identifying opportunities to incorporate its technology solutions within Royal Mail?s existing operations," said Nick Landon, Royal Mail Parcels' managing director.
Shares in Royal Mail were down 0.2% to 462.2 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
RMG.L