- WiseTech Global ( OTCPK:WIGBY ) acquires Envase Technologies for $230M.
- Envase Technologies is a leading provider of transport management system software for intermodal trucking, drayage and landside logistics in North America.
- Envase is being acquired from private investment firm and supply chain investor Firmament, and a small number of other sellers.
- Envase is expected to generate approximately $35M 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 $161M and 30% new WiseTech Global shares equivalent to $69M.
- The acquisition is expected to complete in February 2023.
- In addition, expected one-off transaction costs of ~$10M will be funded from existing cash reserves.
For further details see:
WiseTech Global acquires transport management system software provider Envase Technologies