WiseTech Global (ASX:WTC) has completed earnout renegotiations

Company News

by Rachael Jones

WiseTech Global (ASX:WTC) today confirmed completion of the remaining earnout renegotiations removing $33.3 million of future contingent cash liabilities owed to multiple acquisition targets.

These renegotiations close-out all future earnouts for CMS Transport, Systema and znet, and partially close-out Taric and Prolink earnouts.

The expected change in fair value estimate of contingent consideration from these transactions will result in a one-off $8.1 million fair value gain to be reflected in our FY20 financial statements.

Shares in WiseTech Global (ASX:WTC) are trading 0.86 per cent lower at $21.96.