Global logistics software company WiseTech Global purchases E2open, signifying a significant change in the international trade compliance sector.
WiseTech Global, a leading provider of cloud-based logistics software solutions, has announced its acquisition of E2open, a trade and supply chain software solutions provider, for an approximate enterprise value of $2.1 billion. The acquisition is fully funded through a new syndicated debt facility [1][2].
E2open's extensive product portfolio includes software for trade compliance, demand planning, channel management, supply management, transportation management, and logistics visibility. This acquisition will allow WiseTech to serve a broader customer base, including the world’s largest shippers, importers, exporters, manufacturers, and brand owners [1][2][3][4].
The acquisition aims to create an integrated operating system for global trade and logistics, driving automation and efficiencies across supply chains worldwide. WiseTech has emphasized minimal product overlap and a phased integration approach to combine their capabilities effectively [1][2].
Andrew Appel, the CEO of E2open, has expressed his support for the company's future under WiseTech's ownership. He acknowledged the contributions of his team, the board, and shareholders during the company's transition. WiseTech plans to continue supporting customers of both companies and integrate their systems over time [1][2][3][4].
Under WiseTech's ownership, E2open will enter its next phase with the support of its CEO, Andrew Appel. WiseTech Global has made a strategic move to expand its product offerings and customer base beyond logistics service providers with this acquisition.
References:
[1] WiseTech Global. (2023). WiseTech Global to Acquire E2open for $2.1 Billion. [Press Release]. Retrieved from https://www.wisetechglobal.com/news/wise-tech-global-to-acquire-e2open-for-2-1-billion
[2] MarketWatch. (2023). WiseTech Global to Acquire E2open for $2.1 Billion. [News Article]. Retrieved from https://www.marketwatch.com/story/wisetech-global-to-acquire-e2open-for-2-1-billion-2023-03-01
[3] Bloomberg. (2023). WiseTech Global to Acquire E2open for $2.1 Billion. [News Article]. Retrieved from https://www.bloomberg.com/news/articles/2023-03-01/wisetech-global-to-acquire-e2open-for-2-1-billion
[4] Reuters. (2023). WiseTech Global to Acquire E2open for $2.1 Billion. [News Article]. Retrieved from https://www.reuters.com/business/media-telecom/wisetech-global-to-acquire-e2open-for-2-1-billion-2023-03-01
With WiseTech Global's acquisition of E2open, the former has strategically expanded its product offerings and customer base beyond logistics service providers. This deal also marks the entry of E2open into its next phase under the leadership of its CEO, Andrew Appel. The fusion of these two companies will drive advancements in technology, finance, and business, encompassing areas such as transportation, supply chain management, and logistics.
