Postea was founded in 2007 by industry veterans Michael J. Murphy and Elmar Toime. Two years later, Singapore Post, the privatized and listed postal and logistics company of Singapore, acquired a strategic stake in the company. In 2015, Rice Lake Weighing Systems also became a stakeholder. All investors play a significant role in shaping the company's strategy and vision.
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Prior to joining the Postea family of companies, he served as CEO of New Zealand Post from 1993 to 2003 and then from 2003 to 2004 as both Executive Deputy Chairman of the Royal Mail Group and chairman of its management board. During his tenure, New Zealand Post enjoyed consistent growth and considerable diversification. In 2002 Mr. Toime supervised the establishment of a full-service retail bank, Kiwibank Ltd, as a fully owned subsidiary of New Zealand Post.. He is a member of the supervisory board of the Deutsche Post DHL group, the world's leading logistics company, a non-executive director of Blackbay Ltd, a mobility solutions company, and is the director of the postal strategy consulting firm, E Toime Consulting Ltd. In 2004 he was awarded a lifetime achievement award for leadership in the postal industry. Mr. Toime currently resides in London.
Mr. Murphy has more than 29 years of experience in the high-tech and financial services industries and specializes in building high-performance, distributed, transaction-oriented environments. He is a board member and investor in Trans European Distribution and a board member of Singapore Post. In 1989, he founded Escher Group and grew the Cambridge, Massachusetts-based company to world leadership in postal counter automation software with clients in more than 30 countries. He holds a number of technology and design patents. He maintains homes in New Hampshire, USA and Dublin, Ireland.
Singapore Post's investment supports research and development and product development efforts currently underway within the Postea family of companies. It also includes new R&D facilities in Singapore and an expansion of existing operations in Fairfax, Virginia. Postea will also continue to increase its marketing, sales and customer support presence in North America, Europe and Asia. To learn more about Singapore Post, visit www.singpost.com
Rice Lake Weighing Systems is an international leader in the manufacture and distribution of weight-related, measurement and process-control equipment. Their investment allows both Rice Lake and Postea to focus on their respective strengths while expanding their product offerings. Postea will continue to engineer and develop QubeVu technology while Rice Lake utilizes its 70 years of industry experience to manufacture and distribute it through its vast dealer network as the iDimension series. To learn more about Rice Lake, visit www.ricelake.com