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Wisetech Global Acquires Envase Technologies Leading North American Landside Logistics Software Platform

Jan 24, 2023•over 2 years ago

Acquiring Company

WiseTech Global

Acquired Company

Envase Technologies

Supply Chain ManagementLogisticsSaasInformation TechnologySoftware

Description

WiseTech Global (ASX:WTC), developer of leading logistics execution software CargoWise, today announced its acquisition of Envase Technologies (Envase), a leading provider of transport management system software for intermodal trucking, drayage (container haulage) and landside logistics in North America in a transaction valued at US$230 million. Envase is being acquired from private investment firm and supply chain investor Firmament, and a small number of other sellers.

Company Information

Company

WiseTech Global

About

WiseTech Global is a leading developer and provider of software solutions to the logistics execution industry globally. Our customers include over 18,0001 of the world’s logistics companies across more than 170 countries, including 41 of the top 50 global third-party logistics providers and 24 of the 25 largest global freight forwarders worldwide2. At WiseTech, we are relentless about innovation, adding over 4,900 product enhancements to our global platform in the past five years while bringing meaningful continual improvement to the world’s supply chains. Our breakthrough software solutions are renowned for their powerful productivity, extensive functionality, comprehensive integration, deep compliance capabilities, and truly global reach. For more information, visit www.wisetechglobal.com and www.cargowise.com. ___________________________________ 1 Includes customers on CargoWise and platforms of acquired businesses whose customers may be counted with reference to installed sites 2 Armstrong & Associates: Top 50 Global 3PLs & Top 25 Global Freight Forwarders ranked by 2021 logistics gross revenue/turnover and freight forwarding volumes - Updated 4 August 2022

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed