CargoIT Founders Christina and Bjorn Wiklund
Sydney, Oct 31, 2018 AEST (ABN Newswire) - Global logistics solutions group, WiseTech Global (
ASX:WTC) (WTCHF:OTCMKTS), today announced the acquisition of CargoIT i Skandinavien ('CargoIT'), a leading customs management and logistics solutions provider in Sweden.
Headquartered in Stockholm, CargoIT offers customs management solutions along with their freight forwarding, warehousing and transport solutions to over 150 customers, which include DHL, Kerry Logistics, SAS Cargo, Clas Ohlson, Mondelez International, Mitsubishi Motors, Hyundai, and many other logistics providers and organisations.
WiseTech Global Founder and CEO, Richard White, said "Sweden is a highly developed market and the largest in Scandinavia, so bringing CargoIT into the WiseTech Global group gives us a strong foothold in a very active trade region. CargoIT's considerable Swedish customs management experience, further enhances our provision of integrated cross-border logistics solutions to customers worldwide, alongside the significant productivity benefits we can deliver to the local market through our integrated CargoWise One global platform."
CargoIT Co-founder, Bjorn Wiklund, said "For over 30 years we have been providing highly innovative and effective products for our customers and today we are a leading provider of customs management solutions in Sweden. Joining forces with a global leader like WiseTech will help us develop even more flexible and higher productivity cross-border compliance solutions."
CargoIT Co-founder and Senior Product Manager, Christina Wiklund, said "This is a great opportunity for CargoIT and our customers, which we will continue to work closely with. WiseTech brings significant global expertise and extensive development capabilities that we can tap into to create even more effective logistics solutions for CargoIT and the wider region."
Co-Founders, Bjorn and Christina Wiklund, will remain with the business and continue to work with its customers to deliver innovative customs and logistics management solutions across Scandinavia, along with WiseTech's global logistics platform, CargoWise One.
Across 130 countries, CargoWise One enables logistics service providers to execute highly complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, tracking, land transport, e-commerce, and cross-border compliance and to manage their operations on one database across multiple users, functions, countries, languages and currencies.
This transaction follows WiseTech's other recent logistics solutions acquisitions in Argentina, Australasia, Belgium, Brazil, Canada, France, Germany, Ireland, Italy, the Netherlands, North America, Spain, Taiwan, Turkey, the UK and Uruguay, and is in line with WiseTech Global's clearly stated strategy of accelerating long-term organic growth through targeted, valuable acquisitions.
About CargoIT
Founded in 1981, CargoIT is a leading provider of customs management solutions in Sweden. CargoIT's logistics software also includes freight forwarding, warehousing and transportation management solutions. Customers include organisations such as DHL, Kerry Logistics, SAS Cargo, Clas Ohlson, Mondelez International, Mitsubishi Motors, Hyundai, and many other logistics providers and organisations.
Headquartered in Stockholm, CargoIT has a team of 15, together providing considerable logistics and technical expertise.
For more information on CargoIT visit http://www.cargoit.se
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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