NZ Post sells Converga subsidiary to Canon for undisclosed amount

Mon, 09 Nov 2015

By Fiona Rotherham Nov. 9 (BusinessDesk) - New Zealand Post Group has sold its wholly owned subsidiary Converga to Canon Australia for an undisclosed sum. Converga, which specialises in business process outsourcing with a focus on digital document solutions, employs 1,300 staff and has offices in Australia, New Zealand, Asia and the US. NZ Post, which reported a 34 percent increase in annual profit to $128 million, is in the second year of a five-year reset strategy in the face of declining mail volumes. Profit was helped by a $46 mil...

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