The merger brings together IoT technological know-how with software program providers to empower the road freight transport sector
BEIJING, June 10, 2022 /PRNewswire/ — G7 Hook up Inc. (“G7”), a fleet administration corporation backed by Tencent Holdings Ltd., and E6 Technologies (“E6”), introduced the merger of the two organizations. The merger took area in the first quarter of 2022, with the initial stage of their business integration getting been done. G7 co-founder and CEO Zhai Xuehun has been appointed as chairman and CEO of the merged team (hereafter referred to as the “Team”), although E6 chairman and CEO Zhang Jingtao will serve as vice chairman and G7 CFO Zhang Jielong as CFO.
The merger will create the premier and most influential software company service provider in the industry, with enterprises spanning key vertical marketplaces masking each manufacturing and buyer logistics. The Group’s customers include things like major players in the trillion-yuan highway freight transport marketplace. With its product or service portfolio serving as a one-cease digital company that integrates subscriptions and transactions, the merged entity consolidates the two prior firms’ strengths in technology, creating it the only technologies company in the sector to deliver a extensive selection of World wide web of Matters (IoT) computer software as a services (SaaS) expert services.
The Group is very well positioned to present shoppers with additional expense-aggressive, premium companies by optimizing its offer chain and service networks and decreasing procurement and working expenses. It also ideas to keep on investing in technological know-how and R&D in a transfer to offer shoppers with important knowledge-driven items, with the goal of facilitating an marketplace-large upgrade to a related provide chain supported by facts intelligence.
G7 and E6 were being among the number of fleet management companies that had been able of giving IoT SaaS options owing to sizeable investments in IoT, information, algorithms and software program technologies along with continued strengthening of their respective benefits in technological know-how as a way to establish limitations to rivals. Each corporations experienced also explored and implemented differentiated methods based mostly on their respective main competencies. Notably, G7 experienced recognized a leadership job in the place of IoT technological innovation empowered software package subscription, and general potential and transactions on transpiration, vitality, insurance and gear, when E6 had been focused to delivering computer software subscription providers to significant cargo proprietors and logistics companies, getting a chief within the area of consumer logistics, which include speedy-relocating customer goods (FMCG), retail, food stuff, and cold chain logistics.
“Although the electronic transformation journey of the sector has just started, freight cooperators are searching ahead to transforming how they operate and reaching business good results by the software of digital solutions,” explained the chairman and CEO, Mr. Zhai. “The mix of G7 and E6 enables us to devote far more firmly in technological know-how and to further produce price for our customers by way of info-driven goods.”
“Prior to the merger, both equally businesses thought in the significance of helping buyers succeed and bringing modifications to the sector by virtue of IoT SaaS companies while submit-merger, the shared perception has turn into our frequent ambition,” stated the vice chairman, Mr. Zhang. “We strategy to keep on giving top quality merchandise and expert services with the goal of building an remarkable SaaS corporation with an ongoing dedication to building value for clients.”
G7, a top supplier of IoT SaaS expert services for the street freight transportation sector, served a extensive selection of tiny, medium and large freight manager with IoT-dependent computer software subscriptions and transaction services. The firm, by continuing innovations in technological innovation and expanding its portfolio, had been major the sector in terms of software package subscriptions as properly as transaction providers for transport ability, electricity, insurance plan and machines. E6, a pioneer in IoT SaaS providers for the sector, experienced been focused to offering prospects with IoT-based mostly computer software subscription services with a emphasis on massive cargo entrepreneurs and logistics firms. With a ongoing dedication to tightly-run functions and outstanding products and services, the organization has earned a track record as the darkish horse in the FMCG, retail, meals and cold chain segments.
As two leaders in the IoT technology and application expert services house, equally G7 and E6 experienced been concentrating on offering IoT systems and application to significant cargo proprietors and logistics vendors as very well as to tens of countless numbers of freight professionals. Prior to the merger, the two corporations alongside one another served around 80% of China’s massive cargo owners and logistics providers in addition to assisting pretty much 30,000 small and medium-sized freight managers in strengthening efficiency and expanding revenue.
The merger been given sturdy support from both equally firms’ shareholders. AnJie Law Firm, Llinks Law Places of work, World wide Law Business, Simpson Thacher & Bartlett, Deloitte, KPMG and Boston Consulting Team presented qualified services for the two the transaction and integration initiatives. Pursuing the completion of the merger, World-wide Logistic Properties’ personal fairness arm Hidden Hill Money, Tencent, Cainiao Good Logistics Community and other buyers have each individual appointed representatives to the Group’s board of administrators in tandem with carrying out precise duties with an eye to even more deepening their business collaboration.
¹ Freight supervisor refer to enterprises that control the operation and investing actions of highway freight, which include significant, medium and small cargo entrepreneurs, logistics organizations, self-owned fleets, outsourced fleets, commerce trading firms , manufacturing enterprises, etc. In accordance to a BCG exploration report, about 700,000 freight supervisors have about 85% of China’s street freight quantity and are main gamers in the road freight current market.
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Resource G7 Connect Inc.