Two European IT firms in two weeks for WiseTech
After Znet, international logistics firm buys Italian software provider ACO Informatica
Less than two weeks after buying German customs technology company Znet Group, logistics IT firm WiseTech Global has acquired another European technology provider, ACO Informatica.
While Znet came at a cost of $8.55 million, the purchase of ACO will be phased over a five-year period at the cost of up to $1.96 million.
Headquartered in Milan, ACO provides customs compliance software to the Italian logistics industry.
The acquisitions are part of WiseTech plans to promote growth in the European market.
WiseTech Global CEO Richard White says these transactions are in line with the company’s strategy of "accelerating long-term organic growth through small, targeted, valuable acquisitions across new geographies and adjacencies".
Buying Znet allowed WiseTech to take over the German company’s existing customer base that includes names such as Lufthansa Technik AERO Alzey, Nippon Express and UPS.
It achieved the same target having bought ACO’s clientele including DHL, Italsempione, Saima Avandero DSV, SNATT Logistica and Traconf.
Customers of both companies will soon be moved to WiseTech’s flagship logistics platform, CargoWise One.
"We know the ACO team well, both for their innovative customs clearance solutions for Italy and as a WisePartner for CargoWise One," White says.
"Now with the team as part of our WiseTech Global family we will work together on delivering more powerful capabilities for customers in the future."