Global logistics solutions group, WiseTech Global, (ASX:WTC) today announced the acquisition of Containerchain, a leading container optimisation solutions provider in Asia Pacific, Europe and the United States.
Headquartered in Singapore, Containerchain is a market leader for containerised solutions.
They provide real time tracking, automation, connectivity, operational planning and container visibility across the supply chain; currently covering more than 5 million import and export container movement notifications annually.
To facilitate the exit of existing portfolio investors, the purchase cost is $92 million in cash funded through existing group resources.
Shares in WiseTech Global, (ASX:WTC) are trading 1.57 per cent lower at $18.75.