WiseTech Global Acquires Envase Technologies Leading North American Landside Logistics Software Platform
Summary
SYDNEY--(BUSINESS WIRE)--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. Headquartered in the United States, Envase’s solutions for carriers automate and provide visibility for the movement of containers across all aspects of import and export haulage operations from port and rail terminals to destination. Envase is expected to generate approximately US$35 million of revenue for the calendar year 2023 with an EBITDA margin in the low to mid 20% range. 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.
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