Posten Buys Remaining Part of Direct Link WorldwidePosten, Sweden's national postal service, said yesterday that it acquired Post Denmark's 50 percent interest in Direct Link Worldwide NV and will make it a wholly owned subsidiary.
Started in 1986, Direct Link provides international distribution services to companies around the world, with locations in the United States, United Kingdom, Belgium, Singapore, Australia and the Philippines.
Posten said the acquisition will allow it to compete better in the international mail markets and bring Direct Link's strength and globalization to Swedish companies looking to go international.
Direct Link will move its headquarters from Brussels, Belgium, to Stockholm. Direct Link CEO Fredrik Romberg will leave the company upon completion of the acquisition, putting Esa Tielinin, director of Posten's global business unit, in charge.
Finn Yde-Andersen, director of international post at Post Denmark, said changes in the "strategies of Post Denmark make this divestment a natural development. Post Denmark will ... focus on its core business, of which Direct Link Worldwide is no longer a part."