Australian logistics software firm WiseTech Global has agreed to acquire U.S.-based E2open for $2.1 billion, aiming to enhance its global trade capabilities and create a comprehensive logistics ecosystem.
WiseTech Global, a leading Australian logistics software provider, has announced its largest acquisition to date, agreeing to purchase U.S.-based E2open for $2.1 billion. This strategic move is set to accelerate WiseTech's development by at least a decade, according to co-founder and executive chairman Richard White.
The acquisition will be funded through a new $3 billion syndicated debt facility, involving both international and domestic lenders. WiseTech has already secured written backing from shareholders representing more than 50% of voting rights, with the transaction expected to close within six months.
E2open's cloud-based platform connects over 500,000 manufacturing, logistics, channel, and distribution partners, handling more than 18 billion transactions annually. Integrating E2open's capabilities with WiseTech's existing software aims to eliminate inefficiencies and enhance the global logistics ecosystem.
This acquisition nearly doubles WiseTech's annual revenue, adding E2open's $607.7 million to its own $683.7 million. Despite a lower earnings margin, WiseTech anticipates achieving at least $50 million in annualized run-rate cost synergies by the end of the second year post-acquisition.
The deal also arrives at a pivotal moment for WiseTech, as it seeks to expand its global footprint and product offerings, positioning itself as the operating system for global trade and logistics.
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Kazakh Tourism National Company has introduced a draft concept to transform the historic Baikonur cosmodrome into a future-focused destination for scientific and industrial tourism. The plan aims to attract visitors year-round, beyond just the times of rocket launches.
China is set to eliminate tariffs for all 53 African countries it has diplomatic ties with, offering duty-free access not just to the poorest nations but also to middle-income economies.
The European Union and Britain reached a landmark agreement Wednesday to ease border crossings in Gibraltar, ending years of uncertainty over the territory’s post-Brexit status.
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