Market Insights by SEG: WiseTech Acquired CargoSphere

Enterprise logistics software company WiseTech Global acquired CargoSphere (Planet Traders) for $9.2M (2.8x EV/Rev). CargoSphere is a global leader in ocean freight rate management solutions. CargoSphere will be incorporated with WiseTech’s CargoWise One platform to increase efficiency, accuracy and productivity for customers. WiseTech has been an active buyer in 2017, completing eight acquisitions in 2017, six of which were in 3Q17.

Seller Business Description:

CargoSphere (Planet Traders) develops frictionless rate distribution solutions for ocean carriers and freight forwarders in the U.S. HQ: Chapel Hill, NC. See Press Release. 

Buyer Business Description:

WiseTech (ASX:WTC) provides cloud-based software solutions to the logistics industry worldwide. HQ: Alexandria, Australia.

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