G7 Connect and E6 Technology Announce Completion of Merger, Business News
The merger brings together IoT technological innovation with software package providers to empower the highway freight transport sector
BEIJING, June 11, 2022 /PRNewswire/ — G7 Hook up Inc. (“G7”), a fleet management business backed by Tencent Holdings Ltd., and E6 Technologies (“E6”), announced the merger of the two businesses. The merger took place in the 1st quarter of 2022, with the first stage of their business enterprise integration having 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 provide as vice chairman and G7 CFO Zhang Jielong as CFO.
G7 Join and E6 Know-how Announce Completion of Merger
The merger will produce the greatest and most influential software provider supplier in the business, with companies spanning essential vertical markets covering both of those generation and purchaser logistics. The Group’s buyers consist of key players in the trillion-yuan road freight transport marketplace. With its product portfolio serving as a a single-end digital support that integrates subscriptions and transactions, the merged entity consolidates the two prior firms’ advantages in technologies, creating it the only technologies organization in the sector to deliver a in depth array of Internet of Items (IoT) computer software as a provider (SaaS) companies.
The Team is properly positioned to present clients with additional price-competitive, quality companies by optimizing its provide chain and company networks and lowering procurement and functioning charges. It also designs to go on investing in engineering and R&D in a shift to offer clients with beneficial knowledge-pushed solutions, with the goal of facilitating an market-broad update to a related provide chain supported by information intelligence.
G7 and E6 ended up among the few fleet administration corporations that ended up capable of providing IoT SaaS methods due to significant investments in IoT, data, algorithms and program technologies alongside continued strengthening of their respective strengths in know-how as a way to establish barriers to competition. Equally firms experienced also explored and applied differentiated ways centered on their respective main competencies. Notably, G7 had founded a leadership function in the spot of IoT technological know-how empowered application membership, and overall ability and transactions on transpiration, energy, insurance plan and products, although E6 experienced been devoted to delivering computer software subscription solutions to substantial cargo proprietors and logistics companies, turning into a chief in just the area of customer logistics, like quick-shifting customer items (FMCG), retail, food stuff, and cold chain logistics.
“Although the digital transformation journey of the sector has just begun, freight cooperators are searching forward to switching how they operate and reaching small business success via the software of digital solutions,” stated the chairman and CEO, Mr. Zhai. “The mixture of G7 and E6 permits us to spend more firmly in technological know-how and to further more make price for our consumers by way of facts-driven products and solutions.”
“Prior to the merger, each companies considered in the value of supporting buyers thrive and bringing modifications to the sector by virtue of IoT SaaS companies when submit-merger, the shared belief has become our typical ambition,” stated the vice chairman, Mr. Zhang. “We strategy to keep on offering top quality products and products and services with the target of setting up an fantastic SaaS company with an ongoing dedication to building value for consumers.”
G7, a major company of IoT SaaS services for the highway freight transport sector, served a extensive array of modest, medium and significant freight manager with IoT-dependent application subscriptions and transaction companies. The firm, by continuing innovations in technological know-how and increasing its portfolio, had been main the sector in conditions of program subscriptions as effectively as transaction services for transportation ability, electricity, insurance plan and tools. E6, a pioneer in IoT SaaS solutions for the sector, experienced been dedicated to supplying customers with IoT-based mostly software subscription products and services with a target on substantial cargo homeowners and logistics firms. With a continued dedication to tightly-run operations and remarkable companies, the company has earned a track record as the dark horse in the FMCG, retail, food and cold chain segments.
As two leaders in the IoT know-how and software program companies area, the two G7 and E6 had been concentrating on giving IoT technologies and software package to significant cargo owners and logistics companies as properly as to tens of 1000’s of freight administrators. Prior to the merger, the two firms together served around 80% of China’s big cargo owners and logistics providers in addition to aiding just about 30,000 compact and medium-sized freight supervisors in strengthening effectiveness and expanding income.
The merger been given powerful assist from both firms’ shareholders. AnJie Regulation Agency, Llinks Law Places of work, World-wide Law Workplace, Simpson Thacher & Bartlett, Deloitte, KPMG and Boston Consulting Group furnished qualified services for both of those the transaction and integration endeavours. Adhering to the completion of the merger, World-wide Logistic Properties’ personal equity arm Hidden Hill Funds, Tencent, Cainiao Smart Logistics Community and other investors have every single appointed associates to the Group’s board of administrators in tandem with carrying out distinct responsibilities with an eye to more deepening their enterprise collaboration.
¹ Freight manager refer to enterprises that regulate the procedure and investing functions of road freight, together with large, medium and small cargo owners, logistics providers, self-owned fleets, outsourced fleets, commerce trading firms , production enterprises, and so on. In accordance to a BCG study report, about 700,000 freight managers carry about 85% of China’s highway freight quantity and are significant gamers in the highway freight market.
For much more information and facts, remember to visit G7.
Media Speak to:
Peipei Lin, [email protected]
Shuai Zhang, [email protected]