WiseTech Global to Acquire Rail-Solutions Provider Blume for US$414M -- Update
Summary
SYDNEY--Australias WiseTech Global Ltd. agreed to acquire intermodal rail-solutions provider Blume Global for US$414 million, marking its second strategically significant U.S. acquisition in less than a month. It will fund the remaining 30% through the issue of $124.2 million in new shares, under escrow for 12 months. WiseTech last month announced the acquisition of transport-management software provider Envase Technologies for US$230 million. Australias largest locally listed tech company by market capitalization, WiseTech is scheduled to report its fiscal first-half results next week. Blume manages intermodal containers and chassis including on behalf of six of the seven Class 1 U.S. freight railroads.
Classifications
industries
Transportation Industry
applications
ERP & Process Management
AskAI Classifications
Labels
Logistics Software
Supply Chain Management Software
Enterprise Software
Linked Companies
WiseTech Global
$500M to $1B