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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  WiseTech Global Limited    WTC   AU000000WTC3

WISETECH GLOBAL LIMITED

(WTC)
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WiseTech Global Ltd to Acquire Brazilian Customs Solution Provider, Bysoft

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07/04/2017 | 10:10pm EST

WTC to Acquire Brazilian Customs Solution Provider, Bysoft

Sydney, Australia (ABN Newswire) - WiseTech Global Limited (ASX:WTC) announced the acquisition of Bysoft Solucoes em Sistemas Para Comercio Exterior Ltda (Bysoft), the largest provider of customs and logistics compliance solutions to the logistics industry across Brazil.

Headquartered in Sao Paolo, Bysoft provides automated customs and freight forwarding software and solutions to ~750 corporations including DHL, FedEx, UPS, Schenker, Yusen, Expeditors and CH Robinson.

WiseTech CEO, Richard White, said "With Bysoft's leading position in customs solutions in Brazil, and with Brazil the largest logistics market in South America, we are pleased to welcome the Bysoft team to the WiseTech Global family. Acquiring the market leading customs and logistics compliance vendor gives us an incredibly strong foundation for our South American expansion."

"We value their leadership, cross-border compliance expertise and product development knowledge. We know Bysoft well through our long-standing Wise Business Partner relationship. Given the deep complexities of cross-border logistics in Brazil, we believe the powerhouse combination of WiseTech Global and Bysoft will provide significant benefit for Brazilian logistics providers and multi-nationals world-wide."

WiseTech will pay $11.8m (R$30m) on completion plus a potential earnout payment for future revenue growth. The total purchase cost will be 3.8x 2018 Bysoft revenue. With current annual revenue of approximately $3.4m (R$8.7m) and approximately breakeven NPAT, this transaction is not material to the WiseTech Global group. Bysoft is expected to be consolidated into WiseTech group accounts from August 2017.

This transaction is in line with the company's stated strategy of accelerating long-term organic growth through small, targeted, valuable acquisitions across new geographies and adjacencies. We are continuing to progress our pipeline of opportunities in key target regions of Europe, Asia and Latin America.

About Bysoft

Founded in 1991, Bysoft Solucoes em Sistemas Para Comercio Exterior Ltd a (Bysoft) is the largest software provider of customs solutions to the logistics industry across Brazil. Headquartered in Sao Paolo, with a team of over 50 people, Bysoft solutions cover customs brokerage, government compliance solutions and freight forwarding and their customers include DHL, FedEx, UPS, Schenker, Yusen, CH Robinson, Expeditors, Agility, Dascher, Pibernat, Affinity Logistica and Nippon Express.

Bysoft market leading solutions include l-Traffic, l-Broker, l-Import, l-Portal and BySisco. Since April 2015 Bysoft has been a Wise Business Partner providing access to CargoWise One for their customers. For more information on Bysoft please visit http://bysoft.com.br/

Image Caption: Bysoft Managing Director Edneia Chebabi and WiseTech Global Head of Corporate Development for EMEA, Vlad Bilanovsky.



About WiseTech Global Ltd:

WiseTech Global Ltd (ASX:WTC) is a leading developer and provider of software solutions to the logistics execution industry globally. Our customers include over 6,000 of the world's logistics companies across more than 125 countries. Our flagship product, CargoWise One, forms an integral link in the global supply chain and executes over 34 billion data transactions annually. Our software enables our customers to execute highly complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, land transport and cross border compliance and to manage their operations on one database across multiple users, functions, countries, languages and currencies. Our breakthrough software solutions are renowned for their powerful productivity, extensive functionality, comprehensive integration, deep compliance capabilities, and truly global reach.



Source:

WiseTech Global Ltd



Contact:

Investor Relations
Gail Williamson
T: +61-2-8001-2200 
E: investor.relations@wisetechglobal.com

Media
Peter Brookes
T: +61-2-8234-0100
E: pbrookes@citadelmagnus.com

Matthew Gregorowski
T: +61-2-8234-0100 
E: mgregorowski@citadelmagnus.com
 

© ABN Newswire 2017
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Financials (AUD)
Sales 2020 434 M
EBIT 2020 82,5 M
Net income 2020 69,3 M
Finance 2020 210 M
Yield 2020 0,19%
P/E ratio 2020 88,1x
P/E ratio 2021 71,0x
EV / Sales2020 13,5x
EV / Sales2021 10,8x
Capitalization 6 074 M
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Richard John White Chief Executive Officer & Executive Director
Andrew Charles Harrison Independent Non-Executive Chairman
Andrew Cartledge Chief Financial Officer
Charles Llewelyn Gibbon Independent Non-Executive Director
Michael John Gregg Independent Non-Executive Director
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