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SingPost to divest Australia business at A$1.02bn in enterprise value

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Australia business to be acquired by Pacific Equity Partners for A$775.9 million in cash

– Gain on disposal of approximately S$312.1 million

– Crystallises and unlocks value for shareholders

SINGAPORE, Dec. 2, 2024 /PRNewswire/ — Singapore Post Limited (“SingPost”) today announced that it has entered into a sale and purchase agreement with Pacific Equity Partners (“PEP”)  for the sale of its Australia business, Freight Management Holdings Pty Ltd (“FMH”).

PEP shall acquire the Australia business at an enterprise value of A$1.02 billion (approximately S$897.6 million), which translates into A$775.9 million (approximately S$682.8[1] million) in cash and generates an expected gain on disposal of approximately S$312.1 million, subject to adjustments determined at the time of Completion and any other further adjustments.

“The Board believes this divestment is the best option for shareholders by crystallising the unrealised value of the business and bringing forward unlocking value for shareholders,” said Simon Israel, Chairman, SingPost.

Pacific Equity Partners Managing Director, David Brown said, “We are thrilled to welcome FMH Group to our portfolio. FMH Group has a stellar track record of growth, a passionate team and a clear and compelling trajectory. We look forward to supporting them to build on their success and facilitate further opportunities.”

SingPost intends to utilise some of the proceeds to repay borrowings, in particular, its Australian Dollar-denominated debt amounting to A$ 362.1 million (approximately S$320.8 million) – as at 30 September 2024 – undertaken for the financing of the acquisition of FMH. The total Australian Dollar-denominated debt of the SingPost Group (including borrowings undertaken by FMH)  amounted to A$614.8 million (approximately S$544.9 million) as at 30 September 2024.

The SingPost Board will consider in due course, the payment of a special dividend after taking into account, amongst other things, the repayment of the Australian Dollar-denominated borrowing and future funding needs of the SingPost Group. Further announcements on such a proposed special dividend will be made at an appropriate time.

In July 2023, the Board initiated a strategic review of the SingPost Group’s portfolio of businesses, with a view to enhancing shareholder returns and ensuring that SingPost is appropriately valued. In March 2024[2], the Board outlined its strategic intentions for the businesses and in line with this, initiated a strategic review specifically for the Australia business[3] to formulate optionalities for the Group. Merrill Lynch Markets Australia Pty Limited (“BofA”) was appointed as financial advisor to the Board.

In the course of the strategic review, SingPost received unsolicited interest in the acquisition of FMH, leading to an international competitive bid process conducted by BofA. After evaluating various options, including full and partial divestments, organic and inorganic growth strategies, the Board determined that a full divestment was the best option and a first step towards bringing forward and unlocking value for shareholders.

“Once the transaction is complete, the Board and Management will review and reset the Group’s strategic plan, with a continued focus on shareholder value. We will make an announcement about this at the appropriate time,” said Vincent Phang, Group CEO, SingPost.

The proposed divestment is subject to regulatory approvals such as approvals from the Foreign Investment Review Board of Australia, and SingPost obtaining the requisite approval from shareholders in an extraordinary general meeting of SingPost to be convened.

For the full details, please refer to the SGX Announcement dated 2 December 2024 on “Proposed Sale of SingPost Australia Investments Pty. Ltd.”

About Singapore Post Limited

Singapore Post Limited (SingPost) is a leading postal and eCommerce logistics provider in Asia Pacific. The portfolio of businesses spans from national and international postal services to warehousing and fulfillment, international freight forwarding and last mile delivery, serving customers in more than 220 global destinations. Headquartered in Singapore, SingPost has over 4,900 employees, with offices in 13 markets worldwide. Since its inception in 1858, the Group has evolved and innovated to bring about best-in-class integrated logistics solutions and services, making every delivery count for people and planet.

About FMH Group

FMH Group is a diversified logistics holding company with divisions across 4PL, warehousing, transportation and technology. Its vision is to create a new logistics ecosystem, where people and physical assets are connected through a ubiquitous technology platform, enabling true supply chain efficiency. FMH Group comprises: Australia’s leading 4PL, efm Logistics; logistics technology company, Flip; transportation providers, Border Express, BagTrans, Spectrum Logistics, CouriersPlease and Logistics Holdings Australia, under which is GKR Transport, Niche Logistics and Formby Logistics. www.fmhgroup.com.au 

About Pacific Equity Partners

Pacific Equity Partners (PEP) is one of Australasia’s oldest, largest and most active private equity firms, currently with A$12 billion AUM across various investment strategies. Since 1998, PEP has made more than 200 acquisitions, has engaged close to A$50 billion of transactions, including both acquisitions and exits, and has delivered a 28% average Net IRR p.a. across the closed end funds. PEP has been the recipient of various industry awards over the past 26 years, including most recently the 2024 Firm of the Year Award from the Australian Investment Council (AIC).

[1] Based on an indicative exchange rate of A$1: S$0.88 (solely for illustrative purposes).
[2] Please refer to the announcement ““SingPost Strategic Review Unveils Pathways to Growth and Unlocking Shareholder Value” dated 19 March 2024.
[3] Please refer to the announcement “General Announcement: Strategic Review Of Australia Business To Formulate Optionalities” dated 21 June 2024.

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SOURCE SingPost

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Vivalink Recognized with 2024 Global Healthcare IT Solutions Award by Frost & Sullivan

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Vivalink honored for enabling technology leadership with its innovative remote patient monitoring solutions

CAMPBELL, Calif., Jan. 9, 2025 /PRNewswire/ — Vivalink, a leading provider of digital healthcare solutions, receives Frost & Sullivan’s 2024 Global Healthcare IT Solutions Enabling Technology Leadership Award. This distinction highlights Vivalink as a leader in the global remote patient monitoring (RPM) market for worldwide clinical applications of hospital-at-home, cardiac monitoring and clinical trials.

Frost & Sullivan’s Enabling Technology Leadership Award recognizes companies that apply their technology in new ways to improve existing products and services and elevate the customer experience. Its primary criteria includes Vivalink’s leveraging of technology to improve efficiency, application diversity and creativity, as well as its customer impact through performance, customer experience and brand equity.

Vivalink’s medical-grade wearable technology enables providers to deliver patient-centered care for hospital-at-home services, ambulatory cardiac monitoring, and remote clinical trials. Unlike traditional RPM systems, Vivalink offers continuous, real-time monitoring for a variety of specialties, including cardiology, oncology and neurology, while supporting chronic condition management, early interventions, and specialized applications.

“Frost & Sullivan commends Vivalink for its strategic focus on addressing critical unmet needs and limitations within traditional remote patient monitoring systems, thus accelerating its leadership in the increasingly competitive space,” said Dr. Rishi Pathak, research director at Frost & Sullivan. “With its flexible, versatile, and scalable Biometrics Data Platform and unique business model, the company strategically positions its platform as a convenient, cost-effective, and advanced solution, helping Vivalink capture significant market share.”

This award highlights Vivalink’s commitment to innovation, creativity, and ability to launch new solutions with far-reaching impact and application. Through its evolving solutions, Vivlink enables the integration of RPM technologies for modern healthcare delivery and optimized patient care.

“It is an honor to be recognized as a global leader of health IT solutions, highlighting our commitment to providing informed, continuous data that drives modern healthcare delivery models,” said Jiang Li, PhD and CEO of Vivalink.

For a copy of the detailed award write-up, see: www.vivalink.com/HealthIT_Award

About Vivalink
Vivalink is a provider of digital healthcare solutions for remote patient monitoring in healthcare and clinical trials. By combining medical wearables, advanced algorithms, and clinical applications, we provide a more effective and accessible approach to patient care worldwide.

About Frost & Sullivan
Frost & Sullivan is the Growth Pipeline Company™. We power our clients to a future shaped by growth. Our Growth Pipeline as a ServiceTM provides the CEO and the CEO’s growth team with a continuous and rigorous platform of growth opportunities, ensuring long-term success. To achieve positive outcomes, our team leverages over 60 years of experience, coaching organizations of all types and sizes across 6 continents with our proven best practices. To power your Growth Pipeline future, visit Frost & Sullivan at http://www.frost.com.

Media Contact:
pr@vivalink.com

View original content:https://www.prnewswire.com/news-releases/vivalink-recognized-with-2024-global-healthcare-it-solutions-award-by-frost–sullivan-302347191.html

SOURCE Vivalink

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IDEMIA Awarded 10-Year Blanket Purchase Agreement from the General Services Administration for Next-Generation Identity Proofing for Login.Gov

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IDEMIA offers trusted identity proofing and verification platforms backed by decades-long history of partnership with government agencies.

RESTON, Va., Jan. 9, 2025 /PRNewswire/ — IDEMIA Public Security North America, a leader in identity security and authentication services, has been awarded a 10-year blanket purchase agreement (BPA) worth up to $194.5 million from the General Services Administration (GSA) for its identity proofing capabilities. IDEMIA is one of 8 technology providers selected by GSA to accelerate the deployment of next-generation identity proofing technologies for Login.gov, a secure sign-in platform used by the public to create a single digital account that can be used to access multiple federal, state and local government agency sites.

After a rigorous qualification process by GSA, IDEMIA was selected for its robust and trusted identity proofing and verification technology, designed to ensure that individuals are who they say they are and prevent identity-related fraud, and its long-standing history of more than 60 years serving government agencies. IDEMIA’s Identity and Verification (ID&V) solution incorporates document authentication technology with comprehensive checks, such as digital tampering detection, document identification, font anomaly detection, liveness detection, and face capture. It complies with the highest security standards and is certified by the Kantara Initiative as compliant with NIST SP 800-63 rev. 3 Component Service at Identity Assurance Level 2 (IAL2).

IDEMIA’s identity proofing technology supports both active and passive facial liveness detection during authentication to ensure the person behind the camera is an actual individual. This technology has been awarded Level 1 and Level 2 compliance by iBeta in accordance with the ISO/IEC 30107-3 standards and most recently the Department of Homeland Security Science and Technology Department (DHS S&T). In addition, IDEMIA has incorporated accessibility and usability design feedback from Applause, a world leader in testing and digital quality, to ensure that IDEMIA’s identity proofing technology conforms with Web Content Accessibility Guidelines (WCAG).

“We look forward to serving GSA as a committed technology partner, supporting their digital transformation efforts to improve identity verification and customer experience of Login.gov, which is accessed by millions of users,” shared Donnie Scott, CEO, IDEMIA Public Security North America.

IDEMIA’s ID&V solutions are trusted by public and private organizations across the globe. It serves as the backbone of IDEMIA’s Mobile ID issuance technology, which has been rolled out in New York, Arizona, Delaware, Iowa, and Mississippi, with more states to launch in the coming months.

To learn more about IDEMIA’s Identity and Verification solutions, click here.

About IDEMIA Public Security North America
IDEMIA Public Security North America is a leader in identity security and authentication services to governments and private companies operating in North America. Our mission is to Unlock the World, Make It Safer – helping people access what matters most, more quickly, more safely, and more securely, in both the physical and the digital worlds. Our best-in-class technology helps to authenticate and secure physical and digital transactions. IDEMIA is recognized by the National Institute of Standards (NIST) as a top-ranking participant in the Institute’s passenger facilitation simulation testing as well as in its regular Biometrics Technology Evaluations rankings, reinforcing the trustworthiness and reliability of IDEMIA’s facial recognition solutions for government and consumers alike.  

Learn more at www.na.idemia.com / Follow @Idemia_NA on Twitter and on LinkedIn.

Media contact:  
Genevieve de Vera
IDEMIA Public Security North America
(978) 808-7047
genevieve.devera@us.idemia.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/idemia-awarded-10-year-blanket-purchase-agreement-from-the-general-services-administration-for-next-generation-identity-proofing-for-logingov-302347160.html

SOURCE IDEMIA Identity & Security USA LLC

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Topaz Labs to Expand Addison, TX Headquarters from 7,000 to 27,000 Square Feet; Add 130 High-Tech Jobs

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The Town of Addison secures Topaz Labs with a $200,000 grant to build amenities and collaborative spaces for a new office.

ADDISON, Texas, Jan. 9, 2025 /PRNewswire-PRWeb/ — Topaz Labs, the leading provider of AI-powered photo and video enhancement technology, and the Town of Addison announce an award of a $200,000 Amenities and Collaboration Grant to Topaz Labs to support the expansion of its headquarters, nearly tripling its current size.

” Topaz Labs is exactly the kind of company we love to see grow here in Addison,” said Wayne Emerson, Director of Economic Development at the Town of Addison. Their innovative work in AI and commitment to the Town make them the perfect partner.

The company will lease 28,208 square feet of office space — up from their current 7,000 square feet and expects to invest at least $2.5 million to customize the space with innovation labs and collaborative workspaces for staff. Topaz Labs will become the sole office tenant at Building 900, the newest building in Village on the Parkway, a vibrant mixed-use destination offering premier shopping, dining, and entertainment experiences.

As AI continues to be a booming industry nationally and locally in DFW, Topaz Labs expects to add 130 high-tech jobs by the end of 2027, further contributing to Addison’s reputation as a hub for innovation and technology.

” Topaz Labs is exactly the kind of company we love to see grow here in Addison,” said Wayne Emerson, Director of Economic Development at the Town of Addison. Their innovative work in AI and commitment to the Town make them the perfect partner. We’re also thrilled for their employees, who will enjoy working in a brand-new, highly amenitized building surrounded by great restaurants, entertainment options, and walkable amenities at Village on the Parkway.”

” We’re so excited for the future of Topaz Labs in Addison,” said Eric Yang, CEO at Topaz Labs. “We sought a vibrant, safe, and energetic community with like-minded professionals doing their best work. We’ve found all of that in Addison.”

” This transformative lease aligns seamlessly with Topaz Labs’ rapid growth in the AI industry, as well as our partnership with the Town of Addison. We are honored to have represented them in securing this exceptional space for their headquarters,’ said Nick Lee, President – Office Division and Principal at NAI.

Topaz Labs will begin occupying its new office space in May of 2025.

About Addison

Addison, Texas, is the Address for Success—a vibrant 4.4-square-mile urban hub offering over 200 restaurants, 22 hotels, 12 million square feet of office space, and upscale residential options. Home to Addison Airport, one of the busiest general aviation airports in Texas, and providing prime access to a diverse and highly skilled workforce, Addison is a strategic location for businesses to thrive. Addison is a premier destination in North Texas, known for its world-class special events and exceptional amenities. Learn more at http://www.addisoned.com/

About Topaz Labs

Topaz Labs is the innovator in AI image and video enhancement software for enterprise-scale and professional videographers, cinematographers, post-production specialists, and consumer photographers alike to improve images and video at a speed and scale never before seen. Topaz Labs allows users to upscale, sharpen, and remove noise from blurry or otherwise imperfect images and videos. The company has 1.5 million customers worldwide. For more information, please visit www.topazlabs.com.

About NAI

NAI Robert Lynn, established in 1962, is a leading commercial real estate firm specializing in Dallas/Fort Worth. With a comprehensive range of services—including office, retail, industrial, property management, capital markets, corporate services, site selection, land, and consulting— the firm combines local expertise with global reach to deliver tailored solutions for clients. Their deep-rooted presence and proactive market approach have solidified their reputation as industry leaders. For more information, please visit www.nairl.com.

Media Contact

Wayne Emerson, Town of Addison, 1 9724507076, wemerson@addisontx.gov, addisoned.com

View original content:https://www.prweb.com/releases/topaz-labs-to-expand-addison-tx-headquarters-from-7-000-to-27-000-square-feet-add-130-high-tech-jobs-302346695.html

SOURCE Town of Addison

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