Logistics News

WiseTech heads Stateside with US buy

The company's $37 million Pierbridge purchase will help WiseTech solve new challenges in e-commerce, CEO Richard White says

 

Australian logistics software group WiseTech Global has bought American transportation management solution (TMS) company Pierbridge for about $37 million upfront as it continues its global expansion.

Aside from the upfront cost, the sale also comprises a further multi-year earn-out potential of up to $22.4 million related to business and product integration, and revenue performance

The acquisition follows recent WiseTech acquisitions in Canada, Argentina, Brazil, Uruguay, Taiwan, Turkey and continental Europe and comes as the company aims to expand its cargo chain ecosystem.

Headquartered in Massachusetts with development offices in the UK and Finland, Pierbridge provides its parcel shipping TMS, Transtream, to medium and large shippers in the United States.

The Transtream platform automates rating and delivery times in shopping carts, controls costs, and provides better shipping visibility for customer service, WiseTech says, and counts Siemens, US Homeland Security, BNY Mellon Bank, Texas Instruments, Mazda and Home Depot among its customers.

Streamlining carrier selection, booking, label printing, tracking, invoice reconciliation and business intelligence reporting, the system can be deployed either from the cloud or on the premises in locations that ship hundreds of parcels daily.

WiseTech CEO Richard White says the Transtream platform can be scaled with its own next-generation e-commerce solutions the company drives deeper into global e-commerce fulfilment.

“Bringing the Pierbridge parcel shipping TMS expertise and multi-region development teams into the WiseTech Global group now, expands and accelerates the development of our scalable high-volume domestic and international fulfilment e-commerce solutions,” he says.

“Along with our deep cross-border and international logistics capability and global execution platform, this transaction ensures we are well-placed to solve the increasingly large international e-commerce problem set.”


Related Story: WiseTech generated $15.6 million in profit for the first six months of the 2017-18 financial year. Click here.


Pierbridge managing director Bob Malley, who will remain with the company, said the acquisition was an exciting step forward for the company.

“By integrating our parcel TMS solutions with WiseTech’s CargoWise One platform, we will enable Pierbridge customers and partners to extend control of parcel shipping processes well beyond North America,” he says.

“With their global infrastructure, cross-border logistics expertise and deeply integrated logistics capabilities, WiseTech Global provides Pierbridge with a unique opportunity to address complex international parcel shipping worldwide.”

Previous ArticleNext Article
Send this to a friend