Parties
Company
Canada Post
Company
Deloitte Canada
On January 16, 2024, Canada Post announced that it sold its IT services division, Innovapost, to Deloitte Canada to enhance its IT operations and support its evolving parcel delivery market. This strategic agreement transferred most of Innovapost's employees to Deloitte, while retaining a dedicated leadership team within Canada Post. Deloitte, recognized for its expertise in IT solutions, would handle Canada Post's day-to-day IT services. Financial details of the transaction were undisclosed, with further information to be included in Canada Post's public financial statements.
Doug Ettinger, CEO of Canada Post, highlighted this move as a crucial step in transforming the postal service’s IT model to meet customer demands. Deloitte Canada’s CEO, Anthony Viel, welcomed the opportunity to innovate and drive economic growth through this collaboration. The sale followed a comprehensive bidder selection process, addressing the limitations of the previous shared-service model.
Canada Post, a federal Crown corporation, oversees subsidiaries including Purolator and SCI Group Inc. The sale of Innovapost came shortly after Canada Post announced selling SCI Group to Metro Supply Chain Inc. The transaction was driven by the need for greater speed and agility in IT services to remain competitive.
Deal Type
Merger & AcquisitionIndustry
Tech/Computer/ITTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date