G7 Connect and E6 Technology Announce Completion of Merger, Business News
The merger brings together IoT know-how with program services to empower the street freight transport sector
BEIJING, June 11, 2022 /PRNewswire/ — G7 Hook up Inc. (“G7”), a fleet management business backed by Tencent Holdings Ltd., and E6 Technological innovation (“E6”), introduced the merger of the two corporations. The merger took spot in the first quarter of 2022, with the original stage of their company integration obtaining been done. G7 co-founder and CEO Zhai Xuehun has been appointed as chairman and CEO of the merged group (hereafter referred to as the “Team”), whilst E6 chairman and CEO Zhang Jingtao will serve as vice chairman and G7 CFO Zhang Jielong as CFO.
G7 Link and E6 Know-how Announce Completion of Merger
The merger will generate the largest and most influential software company company in the field, with businesses spanning essential vertical markets covering each output and customer logistics. The Group’s buyers contain important players in the trillion-yuan highway freight transportation industry. With its product or service portfolio serving as a 1-prevent electronic assistance that integrates subscriptions and transactions, the merged entity consolidates the two prior firms’ positive aspects in technological know-how, generating it the only technologies business in the sector to deliver a extensive selection of World wide web of Things (IoT) computer software as a service (SaaS) companies.
The Team is very well positioned to deliver shoppers with extra charge-aggressive, quality companies by optimizing its provide chain and provider networks and decreasing procurement and functioning fees. It also plans to keep on investing in engineering and R&D in a transfer to deliver consumers with beneficial knowledge-driven solutions, with the intention of facilitating an business-huge enhance to a related source chain supported by information intelligence.
G7 and E6 were between the handful of fleet management companies that have been able of providing IoT SaaS alternatives owing to considerable investments in IoT, knowledge, algorithms and program technologies together with continued strengthening of their respective pros in technological know-how as a way to establish obstacles to opponents. Both firms experienced also explored and implemented differentiated techniques centered on their respective main competencies. Notably, G7 had established a leadership purpose in the space of IoT technology empowered software membership, and general capacity and transactions on transpiration, electricity, insurance plan and devices, whilst E6 experienced been devoted to furnishing application subscription providers to massive cargo house owners and logistics vendors, starting to be a chief inside of the domain of buyer logistics, together with fast-shifting customer merchandise (FMCG), retail, foods, and chilly chain logistics.
“Even though the digital transformation journey of the sector has just started, freight cooperators are hunting forward to changing how they run and reaching small business results as a result of the software of electronic remedies,” reported the chairman and CEO, Mr. Zhai. “The blend of G7 and E6 enables us to devote much more firmly in know-how and to even further produce benefit for our prospects by way of data-driven products.”
“Prior to the merger, both corporations considered in the relevance of encouraging buyers realize success and bringing changes to the sector by virtue of IoT SaaS services although put up-merger, the shared belief has turn into our frequent ambition,” said the vice chairman, Mr. Zhang. “We plan to proceed offering high quality merchandise and products and services with the intention of building an excellent SaaS enterprise with an ongoing determination to creating worth for consumers.”
G7, a major supplier of IoT SaaS expert services for the street freight transportation sector, served a vast array of smaller, medium and significant freight manager with IoT-dependent application subscriptions and transaction services. The firm, by continuing improvements in know-how and expanding its portfolio, had been leading the sector in conditions of application subscriptions as effectively as transaction solutions for transportation capacity, energy, insurance plan and machines. E6, a pioneer in IoT SaaS services for the sector, had been devoted to offering shoppers with IoT-dependent software membership expert services with a emphasis on significant cargo entrepreneurs and logistics firms. With a continued dedication to tightly-run functions and superior expert services, the organization has gained a standing as the darkish horse in the FMCG, retail, foods and cold chain segments.
As two leaders in the IoT know-how and application solutions room, equally G7 and E6 had been focusing on offering IoT technologies and program to big cargo proprietors and logistics vendors as properly as to tens of 1000’s of freight supervisors. Prior to the merger, the two companies together served about 80% of China’s big cargo proprietors and logistics providers in addition to helping virtually 30,000 modest and medium-sized freight supervisors in bettering efficiency and escalating earnings.
The merger gained strong assistance from both firms’ shareholders. AnJie Law Organization, Llinks Law Offices, Worldwide Law Business, Simpson Thacher & Bartlett, Deloitte, KPMG and Boston Consulting Group delivered specialist solutions for both equally the transaction and integration initiatives. Next the completion of the merger, World Logistic Properties’ personal equity arm Hidden Hill Funds, Tencent, Cainiao Smart Logistics Network and other investors have each appointed representatives to the Group’s board of directors in tandem with carrying out specific duties with an eye to further more deepening their enterprise collaboration.
¹ Freight manager refer to enterprises that deal with the operation and investing activities of street freight, including substantial, medium and tiny cargo owners, logistics organizations, self-owned fleets, outsourced fleets, commerce trading businesses , production enterprises, etc. According to a BCG analysis report, about 700,000 freight supervisors carry about 85% of China’s street freight volume and are significant gamers in the street freight marketplace.
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Shuai Zhang, [email protected]