Monday, June 23, 2025
Home News WiseTech Global continues its acquisition strategy with Blume takeover

WiseTech Global continues its acquisition strategy with Blume takeover

WiseTech Global, the creator of the logistics execution software CargoWise, has announced the acquisition of Blume Global, a provider of intermodal rail solutions in North America.

WiseTech Global bought US-based Blume for US$414 million from funds managed by Apollo, EQT and other minority shareholders

According to the statement, Blume is a high-growth recurring revenue company that is predicted to produce revenues of US$65-US$70 million in FY24, indicating yearly growth of 45% to 55%. Blume also intends to attain FY24 EBITDA margins of around 10% before operational efficiencies and to be cash-flow breakeven by the end of FY24.

“This is another strategically significant acquisition that follows our acquisition of Envase Technologies last month. It further extends our capability in one of our six key CargoWise development priority areas, integrating rail into our landside logistics offering in North America, the most complex and largest logistics region in the world,” stated
Richard White, founder and CEO of WiseTech Global.

“Joining the WiseTech Global group means greater scale and resources to make logistics processes more productive, agile, dependable, and sustainable with innovative execution and visibility solutions,” pointed out Pervinder Johar, CEO of Blume Global.





Latest Posts

Gemini Cooperation extends AGX/FM1 service to Northern China

The Gemini Cooperation has announced an extension of its Jebel Ali–Far East AGX/FM1 service, which will now reach further north into China with the...

Unimed launches shuttle service between Ambarli and Constanta

Unimed has introduced a new shuttle service connecting Istanbul (Ambarli) with the Port of Constanta in Romania. The service is operated by a single vessel...

CMA CGM reinstates the Mona Express 2

CMA CGM has reinstated its Mona Express 2 service discontinued a year ago and has revised its Mona Express 1 to create a clearer...

Wan Hai 503 fire: “negligence” accusation from Indian resident

Wan Hai Lines has clarified that the Indian police charges against the Taiwanese liner operator for negligence in relation to the Wan Hai 503 fire...

MSC launches new Singapore–East Africa service

MSC is introducing a new service linking Singapore with East Africa, named the Oryx service. The new route will be operated with six vessels, each...
error: Content is protected !!