LOGISTICS software giant WiseTech Global continues its acquisition tear, announcing the purchase of two companies that specialise in freight-rate management software.
Netherlands-based Cargoguide, which provides a global air freight rate management system, and US-based CargoSphere, which specialises in ocean freight rate management systems, were both acquired by the Australian software company.
The acquisitions continue an acquisition trend, with WiseTech now having acquired seven logistics software companies this financial year, which only began in July.
WiseTech CEO Richard White said Cargoguide and CargoSphere’s air and ocean freight rate management systems with the strengths of WiseTech’s integrated global execution platform, CargoWise One, would 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,” Mr White said.
“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.”
Cargoguide is to remain under the leadership of managing director Jorre Cobelens who said joining forces with a global company would enhance Cargoguide’s ability to revolutionise rate, margin and capacity management for the freight forwarding industry.
CargoSphere is also to remain under the leadership of its managing director Neil Barni.