The merger brings together IoT technologies with computer software solutions to empower the street freight transportation sector
BEIJING, June 10, 2022 /PRNewswire/ — G7 Hook up Inc. (“G7”), a fleet administration corporation backed by Tencent Holdings Ltd., and E6 Know-how (“E6”), introduced the merger of the two businesses. The merger took put in the initial quarter of 2022, with the original phase of their company integration obtaining been concluded. G7 co-founder and CEO Zhai Xuehun has been appointed as chairman and CEO of the merged group (hereafter referred to as the “Team”), when E6 chairman and CEO Zhang Jingtao will serve as vice chairman and G7 CFO Zhang Jielong as CFO.
The merger will create the major and most influential software package assistance service provider in the marketplace, with corporations spanning essential vertical marketplaces covering both equally production and customer logistics. The Group’s buyers incorporate significant gamers in the trillion-yuan highway freight transport market. With its solution portfolio serving as a just one-stop digital company that integrates subscriptions and transactions, the merged entity consolidates the two prior firms’ strengths in technological know-how, generating it the only technological know-how enterprise in the sector to provide a thorough vary of Net of Points (IoT) application as a company (SaaS) products and services.
The Group is nicely positioned to give shoppers with far more price tag-competitive, top quality products and services by optimizing its offer chain and service networks and reducing procurement and working charges. It also strategies to proceed investing in know-how and R&D in a move to give prospects with beneficial facts-driven products and solutions, with the aim of facilitating an business-huge up grade to a related source chain supported by data intelligence.
G7 and E6 were amid the few fleet administration corporations that were being able of furnishing IoT SaaS answers due to sizeable investments in IoT, data, algorithms and software program systems together with ongoing strengthening of their respective advantages in technologies as a way to develop boundaries to opponents. Both equally firms had also explored and carried out differentiated techniques centered on their respective main competencies. Notably, G7 experienced set up a management job in the spot of IoT engineering empowered software program membership, and all round potential and transactions on transpiration, energy, insurance and equipment, even though E6 experienced been committed to furnishing software membership companies to big cargo homeowners and logistics providers, becoming a chief within the area of client logistics, including fast-going consumer items (FMCG), retail, foodstuff, and chilly chain logistics.
“Although the electronic transformation journey of the sector has just started, freight cooperators are looking ahead to transforming how they run and acquiring enterprise achievement via the application of digital alternatives,” mentioned the chairman and CEO, Mr. Zhai. “The mixture of G7 and E6 enables us to invest a lot more firmly in technologies and to even further build price for our prospects by way of knowledge-pushed merchandise.”
“Prior to the merger, both businesses considered in the importance of aiding customers succeed and bringing improvements to the sector by virtue of IoT SaaS providers when publish-merger, the shared belief has turn into our popular ambition,” mentioned the vice chairman, Mr. Zhang. “We prepare to go on offering top quality products and solutions and providers with the target of building an excellent SaaS enterprise with an ongoing dedication to developing price for customers.”
G7, a leading company of IoT SaaS expert services for the street freight transport sector, served a vast range of compact, medium and substantial freight manager with IoT-centered computer software subscriptions and transaction companies. The organization, by continuing innovations in technologies and growing its portfolio, had been main the sector in phrases of software package subscriptions as very well as transaction products and services for transport potential, electrical power, insurance and gear. E6, a pioneer in IoT SaaS products and services for the sector, had been focused to supplying prospects with IoT-primarily based program membership expert services with a emphasis on massive cargo proprietors and logistics providers. With a ongoing motivation to tightly-operate functions and top-quality companies, the enterprise has gained a standing as the dim horse in the FMCG, retail, foods and chilly chain segments.
As two leaders in the IoT engineering and software program services place, both equally G7 and E6 experienced been concentrating on offering IoT systems and software to significant cargo house owners and logistics suppliers as nicely as to tens of thousands of freight managers. Prior to the merger, the two corporations together served above 80% of China’s large cargo owners and logistics vendors in addition to assisting nearly 30,000 compact and medium-sized freight administrators in strengthening effectiveness and raising profits.
The merger been given robust support from each firms’ shareholders. AnJie Regulation Business, Llinks Legislation Workplaces, International Legislation Workplace, Simpson Thacher & Bartlett, Deloitte, KPMG and Boston Consulting Team delivered qualified products and services for equally the transaction and integration endeavours. Adhering to the completion of the merger, World wide Logistic Properties’ private fairness arm Hidden Hill Capital, Tencent, Cainiao Smart Logistics Network and other buyers have every single appointed reps to the Group’s board of administrators in tandem with carrying out distinct jobs with an eye to additional deepening their business collaboration.
¹ Freight supervisor refer to enterprises that take care of the procedure and investing pursuits of street freight, which includes substantial, medium and tiny cargo homeowners, logistics firms, self-owned fleets, outsourced fleets, commerce buying and selling providers , production enterprises, and so on. In accordance to a BCG research report, about 700,000 freight supervisors have about 85% of China’s highway freight volume and are key players in the road freight marketplace.
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Source G7 Connect Inc.