Swiss Post, a national postal service of Switzerland, agreed to acquire Quickmail, a company that distributes addressed mailings, and Quickpac, a parcel delivery service. Financial terms were not disclosed. "On the one hand there are declining letter volumes and intense competition in the Swiss parcel market, on the other hand there are very high operating costs. Under these conditions, an independent future for our holding company is no longer possible.» And he adds: "Thanks to the takeover by Swiss Post, we can continue to provide the usual services for all customers. With the sale to Swiss Post, we are gaining a strong partner who can continue the business or integrate it into larger structures," Marc Erni, Quickmail Chairman of the Board of Directors.