Both companies will continue to operate independently while having access to WiseTech customer base
International logistics software firm WiseTech Global has acquired two global rate management system providers, Cargoguide and CargoSphere.
Cargoguide is a Netherlands-based provider of global air freight rate management systems, while US-based CargoSphere offers global ocean freight rate management services.
WiseTech Global CEO Richard White says the acquisitions will add value to its integrated logistics platform, CargoWise One.
“At WiseTech we are focused on improving productivity, quality, speed, visibility and manageability in the logistics industry and we are delighted Cargoguide and CargoSphere are joining the WiseTech family,” White says.
“Combining their powerful air and ocean freight rate management solutions with the strengths of the WiseTech Global group and our leading integrated global execution platform, CargoWise One, will be a step forward for the freight forwarding industry.
“Both solutions will enhance existing rate management capabilities within CargoWise One, increasing efficiency, accuracy and workflow for our customers worldwide, while our innovation strength and development capacity will further accelerate multi-modal rate management developments.
“This will ultimately create a pathway to the deeper automation necessary to substantially increase productivity for freight forwarders grappling with exponential increases in volumes and margin pressure.”
Both Cargoguide and CargoSphere will continue to be led by their current managing directors and continue to deliver their services independently and directly to their respective global customers.
Additionally, they will have access to 7,000 logistics providers who currently use WiseTech’s integrated supply chain execution systems.
“Joining forces with a global leader like WiseTech enhances our ability to revolutionise rate, margin and capacity management for the freight forwarding industry,” Cargoguide MD Jorre Cobelens says.
“With the combined strength of our organisations, we will expand further globally and accelerate our delivery and development of high productivity rate management solutions.”
Cargoguide customers include global freight forwarders and logistics providers including DHL, Expeditors, UPS, DSV, Geodis, Panalpina, Kuehne + Nagel, Schenker, and Toll and Yusen.
Meanwhile, CargoSphere provides rate management systems to over 100 customers including Kuehne + Nagel, Dachser, NNR Global Logistics, M+R Spedag, and Livingston International.
“We have dedicated over 15 years pursuing our product vision and goal of becoming the leading neutral global ocean rates platform for the shipping industry, and working with WiseTech over the last year we realised that we can both do more and deliver more value to our customers together,” CargoSphere MD Neil Barni says.
“We will benefit from the global strength and powerful innovation capability of WiseTech and we remain committed to integrating with ocean carriers and with our customers, and to delivering on our vision for fully automated digital rate distribution.”