- Developer of logistics execution software CargoWise, WiseTech Global ( OTCPK:WIGBY ) acquires Blume Global, provider of solution facilitating intermodal rail in North America,
- Transaction valued for $414M and is acquired from funds managed by Apollo, EQT and other minority shareholders.
- Blume is a high-growth recurring revenue business and is expected to generate FY24 revenues in the range of $65M-$70Mrepresenting annual growth of 45% to 55%. Expects to achieve FY24 EBITDA margins of ~10% and be cash-flow breakeven by the end of FY24.
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WiseTech Global acquires Blume Global for $414M