Acquires Two Leading Global Rate Management Solution Providers, Cargoguide and CargoSphere
Sydney, Sep 12, 2017 AEST (ABN Newswire) - WiseTech Global Limited (
ASX:WTC) today announced acquisitions of two global rate management solution providers: Netherlands-based Cargoguide, a leading provider of global air freight rate management solutions and US-based CargoSphere, a leading provider of global ocean freight rate management solutions.
Headquartered in Utrecht, Cargoguide provides its rate management solutions to customers across 84 countries including to DHL, Expeditors, UPS, DSV, Geodis, Panalpina, Kuehne + Nagel, Schenker, Toll and Yusen and many other leading global freight forwarders and logistics providers. Cargoguide's direct relationship with leading air carriers (such as Emirates, Lufthansa, Delta, Air France/KLM, and Qatar) and GSAs ensures optimal and efficient access to air freight rates contracted or real-time spot rates.
Headquartered in North Carolina, CargoSphere's advanced rate management platform ensures frictionless rate distribution and efficient access to confidential ocean freight rates. CargoSphere provides its rate management solutions to more than 100 customers including Kuehne + Nagel, Dachser, NNR Global Logistics, M+R Spedag, Livingston International and many other leading global freight forwarders and logistics providers.
WiseTech Global CEO, Richard White, said "At WiseTech we are focused on improving productivity, quality, speed, visibility and manageability in the logistics industry and we are delighted Cargoguide and CargoSphere are joining the WiseTech family. Combining their powerful air and ocean freight rate management solutions with the strengths of the WiseTech Global group and our leading integrated global execution platform, CargoWise One, will be a step forward for the freight forwarding industry.
"Both solutions will enhance existing rate management capabilities within CargoWise One, increasing efficiency, accuracy and workflow for our customers worldwide, while our innovation strength and development capacity will further accelerate multi-modal rate management developments. This will ultimately create a pathway to the deeper automation necessary to substantially increase productivity for freight forwarders grappling with exponential increases in volumes and margin pressure."
Cargoguide will remain under the leadership of Managing Director, Jorre Cobelens, who said "Joining forces with a global leader like WiseTech enhances our ability to revolutionise rate, margin and capacity management for the freight forwarding industry. With the combined strength of our organisations, we will expand further globally and accelerate our delivery and development of high productivity rate management solutions."
CargoSphere will continue to be led by Managing Director, Neil Barni, who said "We have dedicated over 15 years pursuing our product vision and goal of becoming the leading neutral global ocean rates platform for the shipping industry, and working with WiseTech over the last year we realised that we can both do more and deliver more value to our customers together. We will benefit from the global strength and powerful innovation capability of WiseTech and we remain committed to integrating with ocean carriers and with our customers, and to delivering on our vision for fully automated digital rate distribution."
Cargoguide and CargoSphere will continue to deliver its solutions independently, direct to their respective worldwide customers and now, also to the 7,000 logistics providers across 125 countries who utilise WiseTech's integrated supply chain execution solutions.
WiseTech's global integrated platform, CargoWise One, enables logistics service providers to execute highly complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, land transport and cross-border compliance and to manage their operations on one database across multiple users, functions, countries, languages and currencies.
About Cargoguide
Founded in 2003, European focused, Cargoguide is a leading global air freight rate management provider providing solutions to customers in 84 countries. Headquartered in Utrecht, the Netherlands, with a team of 25 people, Cargoguide provides freight rate management for thousands of customers around the world, from small businesses, middle size international companies to departments within Fortune 500 companies. Cargoguide provides its solutions to large freight forwarders including DHL, Expeditors, UPS, DSV, Geodis, Panalpina, Kuehne + Nagel, Schenker, Toll and Yusen.
For more information about Cargoguide visit http://www.cargoguide.com
About CargoSphere
Founded in 1999, CargoSphere is a leading global ocean freight rate management provider, helping customers worldwide boost productivity. Headquartered in North Carolina, USA, with a team of 20 people, CargoSphere provides rate management solutions and Rate Mesh to over 100 customers including Kuehne + Nagel, Dachser, NNR Global Logistics, M+R Spedag, and Livingston International.
The CargoSphere rate technology platform delivers frictionless rate distribution and networking. Cloud-based, systematized contract and rate management provides the CargoSphere user community with accurate and collaborative rate distribution, sharing, comparison and quoting, as well as the ability to self-publish FMC tariffs. The CargoSphere Rate Mesh connects shipping partners for seamless, confidential rate collaboration in real-time to simplify rate communication and provide a faster, more effective way to receive and distribute freight rates.
For more information on CargoSphere visit http://www.cargosphere.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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