WiseTech announces third acquisition of the month, acquires Sweden’s CargoIT
Nov 1, 2018: IT solutions provider to the logistics sector WiseTech Global has announced yesterday the acquisition of CargoIT I Skandinavien (CargoIT), a Stockholm-based leading customs management and logistics solutions provider.
CargoIT offers customs management solutions along with their freight forwarding, warehousing and transport solutions to over 150 customers, which include DHL, Kerry Logistics, SAS Cargo, Clas Ohlson, Mondelez International, Mitsubishi Motors, Hyundai, and many other logistics providers and organisations.
Richard White, founder and CEO, WiseTech Global said: “Sweden is a highly developed market and the largest in Scandinavia, so bringing CargoIT into the WiseTech Global group gives us a strong foothold in a very active trade region. CargoIT’s considerable Swedish customs management experience, further enhances our provision of integrated cross-border logistics solutions to customers worldwide, alongside the significant productivity benefits we can deliver to the local market through our integrated CargoWise One global platform.”
Bjorn Wiklund, co-founder, CargoIT said: “For over 30 years we have been providing highly innovative and effective products for our customers and today we are a leading provider of customs management solutions in Sweden. Joining forces with a global leader like WiseTech will help us develop even more flexible and higher productivity cross-border compliance solutions.”
Co-Founders, Bjorn and Christina Wiklund, will remain with the business and continue to work with its customers to deliver innovative customs and logistics management solutions across Scandinavia, along with WiseTech’s global logistics platform, CargoWise One.
This transaction follows WiseTech’s other recent logistics solutions acquisitions in Argentina, Australasia, Belgium, Brazil, Canada, France, Germany, Ireland, Italy, the Netherlands, North America, Spain, Taiwan, Turkey, the UK and Uruguay, and is in line with WiseTech Global’s clearly stated strategy of accelerating long-term organic growth through targeted, valuable acquisitions.