WiseTech Global acquires Norwegian company Systema

Company News

by Rachael Jones

Global logistics solutions group, WiseTech Global (ASX:WTC) has bought Systema, a leading customs management solutions provider in Norway.

Headquartered in Oslo, Systema provides customs and logistics management solutions to customers in Norway, Denmark and Sweden.

The purchase cost comprised of $3 million upfront, with a further expected multi-year earn-out potential of $2.7 million in relation to business and product integration, and revenue performance.

Shares in WiseTech Global (ASX:WTC) are trading 0.3 per cent higher to $20.40.
 

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.