Sydney, Aug 18, 2017 AEST (ABN Newswire) - WiseTech Global Limited (ASX:WTC) (WiseTech) announced its intention to move to full ownership of global ocean carrier logistics solution provider, Softship AG (Softship), a German domiciled company traded on the Frankfurt Stock Exchange (FSE). Softship is a leading provider of software solutions to the international liner shipping industry with a sizeable European customer base.

WiseTech has been a shareholder in Softship since 2014, established a controlling stake in July 2016, and has since increased its holding to 76.97% for a total investment of $21.6m (EUR 14.3m). Softship has been consolidated in WiseTech's financial statements since 1 July 2016.

WiseTech has announced to the German market its intended voluntary public acquisition offer (offer) to the remaining shareholders of Softship to purchase any and all outstanding shares. The offer is made at EUR 10.00 per share with 432,221 shares outstanding and will be executed through WiseTech's wholly owned German subsidiary, CargoWise GmbH.

Concurrently, the Management Board of Softship announced their intention to apply to de-list Softship shares from the FSE.

As with its targeted acquisitions in Germany, Italy, Brazil, Australia and Taiwan this year, this investment is in line with WiseTech's stated strategy of accelerating long-term organic growth through targeted, valuable acquisitions across new geographies and adjacencies.

About Softship AG

Founded in Germany in 1989 and traded on the Frankfurt Stock Exchange (Entry Standard), Softship is a leading provider of software solutions to the international liner shipping industry. Serviced from offices in Hamburg, Manilla, Miami and Singapore, Softship clients around the globe include deep-sea, shortsea and feeder container operators, liner agents, and terminal operators.

For more information on Softship AG, please visit: http://www.softship.com


About WiseTech Global Ltd

WiseTech Global Ltd ASX WTCWiseTech Global Ltd (ASX:WTC) is a leading developer and provider of software solutions to the logistics execution industry globally. Our customers include over 7,000 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 44 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.

For more information about WiseTech Global or CargoWise One please visit www.wisetechglobal.com

     


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



Related Companies

WiseTech Global Ltd

ABN Newswire This Page Viewed:  (Last 7 Days: 33) (Last 30 Days: 230) (Since Published: 1071) 
ANALYTICS: LOGIN HERE

WiseTech Global Ltd NEWS: RECENT VISITS (2782)

Social Media