WiseTech Global (ASX:WTC) has completed earnout renegotiations

Company News

by Rachael Jones

WiseTech Global (ASX:WTC) today confirmed completion of the remaining earnout renegotiations removing $33.3 million of future contingent cash liabilities owed to multiple acquisition targets.

These renegotiations close-out all future earnouts for CMS Transport, Systema and znet, and partially close-out Taric and Prolink earnouts.

The expected change in fair value estimate of contingent consideration from these transactions will result in a one-off $8.1 million fair value gain to be reflected in our FY20 financial statements.

Shares in WiseTech Global (ASX:WTC) are trading 0.86 per cent lower at $21.96.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.