At the end of August, Austrian Post acquired a 31.5% stake in the Czech parcel service provider “IN TIME”. The parties agreed to maintain confidentiality with regard to the purchase price. Similar to Austrian Post, IN TIME is a member of EURODIS, a logistics network operating in 36 European countries. Thanks to this newly-acquired minority shareholding, Austrian Post is now also represented in the important and fast-growing parcel market in the Czech Republic, and will also integrate IN TIME in the Austrian Post parcel network over the long term. In the near future, the focus will be on know-how transfer as well as financial support for investments to further develop IN TIME.
The objective is for IN TIME to become a leading provider of B2C (delivery to private individuals) and B2B (delivery among companies) parcel solutions on the Czech market. All in all, Austrian Post now operates in twelve European countries.
Source: Austrian Post