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.
ABOUT IN TIME
IN TIME was founded in the year 1990 as the first private courier and parcel service in the Czech Republic. The company delivered about four million parcels in 2016, generating annual revenue of about EUR 10 million. IN TIME is well positioned on the Czech courier and parcel market, and ranks among the high growth market participants in the dynamic B2C segment.
Source: Austrian Post