Sunday, June 22, 2025
Home News WiseTech Global acquires Envase Technologies

WiseTech Global acquires Envase Technologies

WiseTech Global, the developer of logistics execution software CargoWise, announced the acquisition of Envase Technologies, a provider of transport management system software for intermodal trucking, drayage 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.

WiseTech Global expects that Envase will generate approximately US$35 million of revenue for the calendar year 2023 with an EBITDA margin in the low to mid 20% range. WiseTech will fund the transaction via a combination of 70% cash, translating to US$161 million and 30% new WiseTech Global shares issued to the vendors, equivalent to US$69 million.

The acquisition is expected to complete in February 2023. In addition, expected one-off transaction costs of approximately US$10 million will be funded from existing cash reserves.

Richard White, founder and CEO of WiseTech Global, said, “This is a strategically significant acquisition in landside logistics, which extends and strengthens our position in one of our six key CargoWise development priority areas, and we’re extremely pleased to have the Envase team join the WiseTech Global group.”





Latest Posts

Vigor Marine Group’s consolidation signals US push to counter China’s shipbuilding dominance

In a bold move to strengthen America’s maritime capabilities, five leading US ship repair and marine service providers have united under a single banner. This...

AI reshape shipping operations

The integration of artificial intelligence into shipping operations, is poised to transform competition in the maritime industry by enhancing efficiency, safety, and sustainability while...

From risk to reliability: The case for specialist freight partners

The freight forwarding landscape is increasingly complex. Importers and exporters are navigating a minefield of shifting customs regulations, stricter environmental pressures, and a rapidly...

Calling Up Innovation: How Large-Format 3D Printing Is Changing the Manufacturing Game

The manufacturing industry has always been at the forefront of adopting new technologies to improve efficiency, reduce costs, and expand creative possibilities. In recent...

Streamlining Lifting Operations: Why Jib Cranes Are Essential for Compact Workspaces

Lifting and moving heavy loads is a critical function in many industrial and commercial settings. Whether in manufacturing plants, warehouses, or workshops, efficient material...
error: Content is protected !!