The AU$92 million acquisition marked the second in February for the Australian company, which has made more than two dozen acquisitions since January 2017.
Logistics software company WiseTech announced Monday it had acquired Counterchain, a Singaporean containerized solutions provider.
The AU$92 million ($65.81 million) purchase was the second acquisition in February for the Australia-based company, which has made more than two dozen acquisitions since January 2017.
Counterchain serves the container shipping industry, including depots and terminals, truckers, warehouses, shipping lines and shippers. It covers more than 5 million import and export container movement notifications annually and has offices in Australia, New Zealand, Singapore, Malaysia, Germany, the Netherlands, Belgium, France and the U.S.
The acquired group will be added to WiseTech’s “portfolio of CargoWise One 2PL and 3PL execution capabilities” and will further facilitate its “new platform in development, CargoWise Nexus,” said Richard White, WiseTech Global founder and CEO.
“We currently track more than 12 million international ocean containers annually through all major milestones, including container depots and ports for logistics organizations,” he said. “Now, with Counterchain, we will be able to provide additional visibility, notifications and decision-making capabilities domestically on both ends of the container chain.”
Containerchain will remain under the joint leadership of managing director Chris Collins and founder Tony Paldano.
WiseTech Global purchases Counterchain
