WiseTech Global (ASX:WTC) buys South Korean customs solutions provider

Company News

by Rachael Jones

Global logistics solutions group, WiseTech Global (ASX:WTC) has bought Ready Korea, a customs solutions provider in South Korea.

They offer a cross-border compliance solution, which facilitates the lodgement of electronic transactions to the Korean Customs Service, including customs brokerage and refunds.

They facilitate the generation and submission of electronic import/export documentation.

Customers include FedEx, Samsung, Siemens, Johnson & Johnson, and many other organisations.

Net purchase price comprises $13.2 million upfront, with a further multi-year earnout potential of up to $7.0 million.

Shares in WiseTech Global (ASX:WTC) last traded 0.8 per cent higher $25.87.