WiseTech Global Acquires Envase Technologies
January 24, 2023
WiseTech Global acquired Envase Technologies for US$230 million from private investment firm Firmament and a small number of other sellers. Envase, a Long Beach, California-based provider of transport management system software for intermodal trucking, drayage and landside logistics, serves more than 1,300 North American customers and was expected to generate about US$35 million of revenue in 2023; the deal is being funded with 70% cash and 30% new WiseTech shares.
- Buyers
- WiseTech Global
- Targets
- Envase Technologies
- Sellers
- Firmament, Other minority sellers
- Industry
- Transportation
- Location
- California, United States
- Transaction Type
- Buyout
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