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

Company News

by Rachael Jones

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Last Updated: 21/01/2020 1:58 PM

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.
 

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.