Acquires German Customs Solution Provider znet group GmbH
Sydney, Feb 1, 2017 AEST (ABN Newswire) - WiseTech Global Limited (
ASX:WTC) announced the acquisition of znet group GmbH (znet), a leading provider of customs solutions to the logistics industry across Germany.
Headquartered in Wiesbaden, znet provides automated customs software and solutions to over 500 customers including Abbott, Lufthansa Technik AERO Alzey, Nippon Express and UPS.
At an expected purchase cost of up to EUR6.0m phased over up to 5 years and current annual revenue of approximately EUR2.0m and NPAT of approximately EUR0.1m this transaction is not material to the WiseTech Global group. znet will be consolidated into WiseTech group accounts from 1 Feb 2017.
WiseTech CEO, Richard White, said "znet is an innovative provider of automated customs solutions and their development teams include customs compliance experts and customs IT professionals. We welcome the znet team to the WiseTech Global family and will work together to deliver even better solutions for our customers in the future".
"This transaction is in line with our stated strategy of accelerating long-term organic growth through small, targeted, valuable acquisitions across new geographies and adjacencies.
We are continuing to progress our pipeline of opportunities in key target regions of Europe, South America and Asia."
About znet
Founded in 1997, znet group GmbH (znet) is a leading provider of customs solutions to the logistics industry across Germany. Headquartered in Wiesbaden, with a team of ~30 people, znet products and brands include zara customs software, zafir precise customs consulting and zecur secure customs clearance.
For more information on the znet Group, please visit http://www.znet-group.com
About WiseTech Global Ltd
WiseTech Global Ltd (ASX:WTC) is a leading developer and provider of software solutions to the logistics execution industry globally. Our customers include over 17,000 of the world's logistics companies across 160 countries, including 41 of the top 50 global thirdparty logistics providers and all of the 25 largest global freight forwarders worldwide2. Our flagship platform, CargoWise, forms an integral link in the global supply chain and executes over 50 billion data transactions annually.
At WiseTech, we are relentless about innovation, adding over 4,000 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.
For more information about WiseTech Global or CargoWise, please visit wisetechglobal.com and cargowise.com
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