WiseTech acquires Finland’s Aktiv Data
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The news: WiseTech Global has entered into an agreement to acquire Finland-based Aktiv Data, a provider of electronic customs and freight forwarding solutions.
The numbers: WiseTech shares were up 1.43% to $92.17 in early trading on the ASX.
The context: WiseTech said the acquisition will help its strategy to provide a single global customs system for customs clearance and cross-border compliance to make customs processing more efficient, compliant and secure for international freight forwarders.
Aktiv Data was founded in 2006 and also offers bonded warehouse and waybill products. Finland has the second highest container port in Northern Europe and its top exports are machinery, mineral fuels and paper products.
The acquisition will also allow WiseTech’s CargoWise software clients to be provided with Aktiv Data’s electronic customs solution.
Aktiv Data’s operations will be integrated within the WiseTech Global group and remain under the leadership of Kaj Svarvar. Aktiv Data will continue to deliver their customs solutions directly to their customers and offer other CargoWise solutions over time.
What they said: WiseTech Global chief execution officer, Vlad Bilanovsky, said: “With the Aktiv Data acquisition, our global customs system will cover approximately 76% of global manufactured trade flows via a combination of our native customs platform and acquired businesses, taking us closer to our 90% target.”
The source: Wisetech Global
