As of now, the Austrian Post is a shareholder of the Czech parcel service provider IN TIME. At the end of August, Austrian Post acquired a 31.5% stake in the Czech company. The parties agreed to maintain confidentiality with regard to the purchase price, reads a press release.
Thanks to this newly-acquired minority shareholding, Austrian Post is now also represented in the important and fast-growing parcel market in the Czech Republic. In the near future, the focus will be on know-how transfer as well as financial support for investments to further develop IN TIME. The objective is for IN TIME to become a leading provider of B2C and B2B parcel solutions on the Czech market. All in all, Austrian Post now operates in twelve European countries.
IN TIME was founded in the year 1990 as the first private courier and parcel service in the Czech Republic. The company delivered about four million parcels in 2016, generating annual revenue of about EUR 10 million. IN TIME is well positioned on the Czech courier and parcel market, and ranks among the high growth market participants in the dynamic B2C segment.
