Trinium Technologies is a Los Angeles-based intermodal trucking software provider.
WiseTech Global’s acquisition spree continues with its purchase of intermodal trucking software provider Trinium Technologies.
WiseTech repeatedly has said it strives to accelerate long-term, organic growth by making “targeted, valuable” acquisitions, and the company has been rapidly buying companies across the globe since the start of last year.
The purchase cost of Los Angeles-based Trinium includes AUD $40.9 million (U.S. $29.8 million) up-front, as well as an additional multiyear earn-out potential of up to AUD $27.7 million related to business and product integration and revenue performance, WiseTech said.
Trinium is expected to be consolidated into WiseTech’s accounts in October.
Trinium offers a transportation management system for the movement of sea freight containers between port terminals, inland rail terminals, container yards and warehouses. Its leading product, Trinium-TMS, allows companies to completely automate their processes from order receipt through customer service, dispatch operations, billing and driver settlements. Trinium also provides container-tracking functionality through its integration with dozens of marine terminal and rail systems across the United States and Canada.
“Trinium enables specialized road transport for the first- and last-mile container movement required on every international shipment, which is a highly specialized transport process distinct from general road freight,” WiseTech founder and CEO Richard White said. “Together we will leverage our global reach and powerful development capacity to scale up our broader TMS offering globally, building out the ecosystem further and providing ever more productive and integrated solutions to customers across the supply chain.”
Remaining under the leadership of Michael Thomas, with Chief Technology Officer Barry Assadi and Vice President of Sales and Marketing Dennis Lane, Trinium will continue to deliver solutions directly to customers across the United States and Canada — and potentially to the 7,000 logistics providers across the globe that use WiseTech’s integrated supply chain execution solutions, including its flagship product, CargoWise One.
As a single-platform software solution that executes more than 44 billion data transactions annually, CargoWise One allows logistics service providers to execute highly complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, tracking, land transport, e-commerce and cross-border compliance.
Last week WiseTech announced the acquisition of Madrid, Spain-based customs management solutions provider Taric.
“We acquired Taric for its leadership in Spanish customs and border compliance technology,” a WiseTech spokesperson told American Shipper.
The spokesperson explained that WiseTech is accelerating the convergence of technologies for its CargoWise One platform by adding targeted acquisitions of key adjacencies to its innovation pipeline to build valuable ecosystems and global product sets.
“Our adjacencies expand our platform scope and deepen our product capability, growing key areas of the cargo chain, making the CargoWise One platform increasingly attractive to our customers and creating highly sustainable logistics ecosystems,” the spokesperson said.
Next Wednesday WiseTech is scheduled to announce its financial results for fiscal year 2018, which runs from July 1, 2017, through June 30, 2018, and it’s expecting strong growth in revenues and EBITDA.
WiseTech said in May it expects revenues for fiscal year 2018 to range between AUD $210 million and AUD $220 million and its EBITA to range between AUD $71 million and AUD $75 million, up from revenues of AUD $153.8 million and an EBITDA of AUD $53.9 million for fiscal year 2017.
WiseTech makes another purchase
