DC Advisory (DC) exclusively advised Jing King Tech Holdings Pte. Ltd. on its acquisition of Novation Solutions Limited ‘Novation Solutions’ and DataPost HK Pte Limited 'DataPost HK' from Singapore Post Limited (SingPost) for a value of SGD 24 Mn.
The transaction enables Jing King to expand its repertoire of products and services to its existing strong clientele network and SingPost to focus on its growing eCommerce business.
Founded in 1984 as a plastic card manufacturing company, Jing King has progressed rapidly over the last 30 years, serving customers worldwide, providing outsourcing BPO services, self-service kiosks and VTMs, mobile payment and secure transaction solutions.
Jing King is one of the world’s top manufacturers of smart cards.
With its manufacturing facilities in China, it produces payment cards such as ATM cards, debit Cards and credit cards, SIM telephone cards and PRC social security cards for domestic issuers in the PRC as well as in its OEM capacity to global smart card players such as Morpho Safran, Giesecke & Devrient (G&D), Oberthur and Valid etc.
Jing King possesses accreditations across banking and telecom segments including Visa, MasterCard, American Express, China UnionPay, People’s Bank of China PBOC 2.0 and GSMA SAS certification.
Novation Solutions is a leading outsourcing service provider that offers printing and processing of inbound and outbound document solutions and is a market leader in providing high-quality security document printing with digital personalization. DataPost HK is in similar business as Novation Solutions.
Jing King is on a business expansion path and the acquisition allows it to expand its products and services, as well as increase Novation Solution and DataPost HK’s business and financial exposure in the North Asia market by tapping on Jing King’s existing customer network.
The transaction also supports SingPost’s strategy to focus on growing its e-commerce related businesses in the region.