Wisetech Global's next coup
Sydney (Australia)-headquartered Wisetech Global (WTC), developer of the logistics software Cargowise, recently acquired the US-based company Blume Global (Blume).
Amongst others, Blume provides a software solution facilitating intermodal rail in North America. The price of the transaction was USD 414 million. The company was sold by a fund managed by Apollo, EQT and other minority shareholders.
North America is the world’s largest domestic logistics region, and Blume manages intermodal containers and chassis on behalf of US railroads, ocean carriers and other intermodal equipment providers including global freight forwarders and shippers. Founded in 1993, Blume is expected to generate FY/24 revenues in the range of USD 65 million to USD 70 million. (sh)