WiseTech Global buys Ulukom in Turkey | Finance News Network

WiseTech Global buys Ulukom in Turkey

Company News

by Rachael Jones

Global logistics solutions group, WiseTech Global (ASX:WTC), today announced the acquisition of Ulukom, a leading logistics and customs solutions provider in Turkey.

Headquartered in Istanbul, Ulukom offers a range of logistics, freight forwarding and warehouse solutions.

WiseTech Global Founder and CEO, Richard White, says as the bridge between Europe, the Middle East and Asia, and one of the EU’s largest trading partners, Turkey has long been a key market in the region and globally.

The purchase cost comprises $2.9m upfront, with a further multi-year earn-out potential of up to $4.6m related to integration, product development, customer conversion and revenue growth .

Shares in WiseTech Global (ASX:WTC) are up 0.14 per cent to $14.21. 

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.