1.15 billion euro deal
Körber acquires mail and parcel business from Siemens Logistics
Siemens Logistics, known until 2015 under the somewhat unwieldy name Siemens Postal, Parcel & Airport Logistics (SPPAL), offers postal and parcel technology as well as software for logistics providers. The acquisition significantly expands Körber's supply chain offering.
With around 1,200 employees, the mail and parcel business of Siemens Logistics generates annual sales of around 500 million euros. Körber is tapping into a complementary product range and hopes to gain access to the world's leading logistics providers. In return, Siemens Logistics' mail and parcel business will benefit from Körber's end-to-end expertise in supply chain and global system integration. The purchase price is not mentioned in the Körber Group's announcement, but it is mentioned in the announcement from Siemens: according to this, it is 1.15 billion euros.
Stephan Seifert, CEO of Körber AG, says: "As a leading provider in the global courier, express, parcel and e-commerce market, Siemens Logistics is excellently positioned with its customers worldwide. With Siemens Logistics' mail and parcel business, we are broadening and complementing our market offering as a leading global partner to the supply chain and e-commerce industry - for all relevant solutions such as hardware, software, digitalization and system integration. I am excited about the opportunities that will arise for the future and for working together with our customers. One thing is already certain: we are and will remain a technologically leading and reliable partner."
"The recent excellent development of the mail and parcel business of Siemens Logistics has shown that we are able to further develop businesses with our portfolio company concept and make them fit for the future, even if they are not part of our core business," says Ralf P. Thomas, CFO of Siemens AG. Dirk Hejnal, CEO of the Körber Business Area Supply Chain, says: "The Siemens Logistics mail and parcel business team impressively combines machine processes with intelligent, digital automation technology to create comprehensive, value-adding solutions for large global logistics companies. Siemens Logistics' expertise in this area will undoubtedly strengthen our offering and extend our technology leadership."
The transaction is subject to customary closing conditions and regulatory approvals and is expected to be completed by the end of the year, according to Siemens Logistics.
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