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WISETECH GLOBAL LIMITED — Capital/Financing Update 2018
Feb 6, 2018
66086_rns_2018-02-06_eb4bbcaa-cb32-4553-bea2-b09e976652ca.pdf
Capital/Financing Update
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ASX Announcement: 2018/02
7 February 2018
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WiseTech Global acquires leading Belgian logistics solutions provider, Intris
Global logistics solutions group, WiseTech, today announced the acquisition of Intris N.V. (Intris) the leading Belgian provider of freight forwarding, customs and warehousing management solutions.
Headquartered in Antwerp, Intris provides its integrated software and cloud-based solutions to customers including Panalpina World Transport, Bollore Netherlands, Rhenus, Gosselin Support Services, AML and many other logistics services providers in Belgium and, more recently, the Netherlands.
WiseTech CEO, Richard White, said, “Bringing Intris into the WiseTech Global group is another step in deepening our reach and capacity in Belgium, one of Europe’s largest and most important trade gateways. We welcome the Intris team and management, as we value their deep industry experience and product development knowledge. We understand the complexities and challenges borne by logistics providers facing EU trade changes, growing transaction volumes and increasing cross-border compliance requirements. This transaction, as part of the continued expansion of our global footprint and broader panEuropean capability, will, over time, build further capabilities and productivity for all our customers.”
For Intris, the purchase cost comprises ~$11.9m (EUR 7.5M) upfront, with a further multiyear earn-out potential of up to ~$5.5m (EUR 3.5M) related to integration, product development and customer conversion. With 2016 annual revenue of ~$7.1m (EUR 4.5M) and ~$1.1m (EUR 0.7m) contribution to EBITDA, this transaction is not material to the WiseTech Global group. Intris is expected to be consolidated into WiseTech Global accounts from March 2018.
Along with our recent acquisitions in Ireland, North America, Brazil, Taiwan, Australasia and the Netherlands, this transaction is in line with our stated strategy of accelerating long-term organic growth through targeted, valuable acquisitions across new geographies and larger, globally capable adjacencies. We are continuing to progress our pipeline of opportunities in key target regions of Europe, Asia and Latin America and additional adjacencies.
//ENDS
About WiseTech Global
WiseTech Global is a leading developer and provider of software solutions to the logistics execution industry globally. Our customers include over 7,000 of the world’s logistics companies across more than 125 countries, including 32 of the top 50 global third party logistics providers and 23 of the 25 largest global freight forwarders worldwide[1] . Our flagship product, CargoWise One, forms an integral link in the global supply chain
1 Armstrong & Associates: Top 50 Global Third Party Logistics Providers List, ranked by 2016 logistics gross revenue/turnover. Armstrong & Associates: Top 25 Global Freight Forwarders List, ranked by 2016 logistics gross revenue/turnover and freight forwarding volumes.
and executes over 44 billion data transactions annually. Our software enables our customers 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. At WiseTech, we are relentless about innovation, adding more than 3,000 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 on WiseTech Global and CargoWise One, please visit:
Investor centre www.wisetechglobal.com/investors Company website www.wisetechglobal.com
About Intris
Founded in 1994, Intris is a leading provider of innovative, integrated freight forwarding, warehousing and customs management solutions in Belgium and the Netherlands. Headquartered in Antwerp, with a team of ~45 experienced logistics and technical professionals, Intris provides advanced software solutions for hundreds of customers from small businesses to multinational companies including Panalpina World Transport, Bollore Netherlands, Rhenus, Gosselin Support Services, AML and many other organisations and logistics providers.
For more information about Intris and their TRIS range of solutions, visit www.intris.be
Contact information
INVESTOR RELATIONS
Gail Williamson + 61 2 8001 2200 [email protected]
MEDIA
Piers Shervington +61 (0) 404 538 177 [email protected]
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