Australian losistics software giant, WiseTech Global (ASX: WTC) has bought Stockholm-based customs and logistics solutions provider, CargoIT.
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, and Hyundai.
The move further strengthens WiseTech’s hold on the global logistics software market.
WiseTech Global Founder and CEO, Richard White, said in a statement: “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.
Utilised by major Australian manufacturers, distributors and retailers, WiseTech’s CargoWise family of software is 8,000 of the world’s logistics companies across 130 countries.
CargoWise One executes over 44 billion data transactions annually.
Picture: WiseTech Global CEO Richard White.