WiseTech Global to acquire ImpexDocs
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The news: The Australian sharemarket's largest tech stock WiseTech Global has agreed to acquire Sydney-based ImpexDocs, a provider of global trade management (GTM) solutions.
The context: WiseTech, which develops leading logistics execution software CargoWise, will acquire ImpexDocs from Acme Trade Group, subject to certain conditions including regulatory approval.
WiseTech said that ImpexDocs' software suite will become part of the company's compliance, trade and logistics products. ImpexDocs, which has clients across Australia, New Zealand and the US, will remain under the leadership of Manish Desai, who founded the company in 2003.
What they said: WiseTech's chief execution officer Vlad Bilanovsky said: "The acquisition of ImpexDocs brings proven GTM capability to WiseTech’s solutions as well as a team of domain experts in global trade execution and compliance".
"This will help accelerate ongoing product development within digital documentation — one of our six priorities to extend the CargoWise ecosystem."
The source: WiseTech media release
