IWCO Direct Announces Historic Strategic Investment

Approximately $50 Million to be Invested Over Next Two Years

Chanhassen, Minn. (June 11, 2021) – IWCO Direct, a leading provider of data-driven direct marketing solutions, today announced a new strategic plan that features the largest investment in the history of the 52-year-old company. The investment of approximately $50 million will accelerate IWCO Direct’s evolution as a leading strategic solutions partner, well-positioned to meet the current and future needs of performance marketers.

“With this historic investment in IWCO Direct, we will quickly and significantly enhance the value we can bring to marketers in delivering response and business impact through our strategy, creative, data, and campaign execution,” stated John Ashe, CEO of IWCO Direct.

This investment will transform the company’s technology and digital marketing capabilities, as well as its production platform to meet the needs of its marketing clients. It is directed toward state-of-the-art digital presses and a new hybrid in-line technology environment as well as facilities optimization and implementation costs. IWCO Direct’s plan will provide immediate solutions to an industry that continues to integrate its direct mail and digital marketing channels, while looking for greater speed from data to delivery, more opportunity for personalization, a more holistic and omnichannel approach to programs, as well as cost efficiency.

As the plan rolls-out, IWCO Direct will also greatly expand its critical data and analytics and marketing services offerings, maximizing the performance of customer campaigns.  The company has also committed to further investment in its unique postal logistics operation – the largest commingling platform in the country providing maximum cost efficiency for client programs.

“We are excited to share our plans for investment and growth as we move forward with this strategic plan to position IWCO Direct as a leading data-driven solutions company,” continued Ashe. “Since I arrived at IWCO Direct last year, we have been developing our vision for the future of the company. We believe that this historic investment will provide our clients with the performance, speed, creativity and market efficiencies they need to reach their target audiences.”

About IWCO Direct

As a leading provider of data-driven direct marketing solutions, IWCO Direct’s Power your Marketing™ approach drives response across all marketing channels to create new and more loyal customers. The company’s full range of services includes strategy, creative, and execution for omnichannel marketing campaigns, along with one of the industry’s most sophisticated postal logistics strategies for direct mail. Through Mail-Gard®, IWCO Direct offers business continuity and disaster recovery services to protect against unexpected business interruptions, along with providing print and mail outsourcing services. The company is ISO/IEC 27001 Information Security Management System (ISMS) certified through BSI, reflecting its commitment to data security. Stay current on direct marketing trends, industry news, postal regulations, and more by subscribing to IWCO Direct’s SpeakingDIRECT blog and following the company on LinkedIn.

IWCO Direct is a wholly owned subsidiary of Steel Connect, Inc., a publicly traded diversified holding company (Nasdaq Global Select Market symbol “STCN”); Steel Connect, Inc. has two wholly owned subsidiaries, IWCO Direct and ModusLink Corporation. For more information, please visit About Steel Connect, Inc.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are not historical facts are hereby identified as “forward-looking statements” for the purpose of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Please review our SEC filings for further information. All statements other than statements of historical fact, including without limitation, those with respect to IWCO Direct’s or Steel Connect’s goals, plans, expectations and strategies set forth herein are forward-looking statements. For a detailed discussion of cautionary statements and risks that may affect Steel Connect’s future results of operations and financial results, please refer to our filings with the SEC, including, but not limited to, the risk factors in the Company’s Annual Report on Form 10-K filed with the SEC on September 30, 2020.

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