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9 July (BNS) - Smartpost, which has created a high-tech parcel delivery system in Estonia during the past two years, has signed a contract for the sale of its network to the Finnish logistics company Itella Corporation in order to fully dedicate expansion to foreign markets. By a mutual agreement, the parties will not disclose the price of the transaction, the companies said on July 9.

In the future, Smartpost will focus on its main activity – the development of parcel delivery software and hardware and its sale to foreign countries. Use of the Smartpost trademark in Estonia will pass to Itella. The employees connected with the provision of parcel delivery services will also continue in Itella. Itella will set up a new company, OU Itella Smartpost, to continue providing the parcel delivery services in Estonia.

Peep Kuld, member of the supervisory board of Smartpost, said that the management of the company had achieved its first aim and had proved the success of its business idea in Estonian conditions. "The main aim of the creation of a parcel delivery system in Estonia was supporting our export plans and the aim has been achieved by today. The system has been very successfully geared and it is the main argument in the sale of our technology on foreign markets,” Kuld said.

The technology and logistics company Smartpost, which is based on domestic capital, has a total of 38 parcel delivery systems throughout the country. By means of Smartpost it is also possible to send parcels all over Europe, although the parcels will be delivered by the traditional postal service. In the company's own assessment more than 90 000 people have used the services of the company.


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