WiseTech buys New Hampshire drayage and trucking visibility software firm for $230 million
Australian firm says Envase deal will complement its CargoWise logistics optimization platform.
The Australian logistics software vendor WiseTech Global is back on the takeover trail, announcing today that it has spent $230 million to buy Envase Technologies, a New Hampshire-based provider of transport management system software for intermodal trucking, drayage (container haulage), and landside logistics.
WiseTech bought the firm from its owners, the private investment firm Firmament and a small number of other sellers.
Envase says its solutions for carriers provide visibility and automation for the movement of containers across all aspects of import and export haulage operations from port and rail terminals to destination. The firm’s 1,300 customers across North America include trucking companies, ports, depots, and warehouses. Envase expects to generate $35 million of revenue for the calendar year 2023.
The firm’s technology is expected to complement WiseTech’s CargoWise, a global network visibility platform that optimizes operations across borders, regulatory boundaries, and freight modes, WiseTech says. “This is a strategically significant acquisition in landside logistics, which extends and strengthens our position in one of our six key CargoWise development priority areas, and we’re extremely pleased to have the Envase team join the WiseTech Global group,” Richard White, founder and CEO of WiseTech Global, said in a release.
The purchase marks WiseTech’s latest in a long line of acquisitions, including most recently the U.K.’s Shipamax, Switzerland’s SISA Studio Informatica SA, South Korea’s Ready Korea, the U.S.’s Depot Systems, Sweden’s Xware, Singapore’s Containerchain, and Norway’s Systema, all since 2019.