The Australian logistics software vendor WiseTech Global has acquired supply chain technology provider Blume Global for $414 million, saying the move extends the capability of WiseTech’s CargoWise logistics execution software.
WiseTech purchased California-based Blume from funds managed by the private equity groups Apollo and EQT, and other minority shareholders.
The company defines its CargoWise product as a global network visibility platform that optimizes operations across borders, regulatory boundaries, and freight modes. WiseTech’s latest move is intended to integrate that platform with Blume’s solution that facilitates intermodal rail in North America. Blume manages intermodal containers and chassis on behalf of six of the seven Class 1 U.S. railroads, ocean carriers, and other intermodal equipment providers including global freight forwarders and beneficial cargo owners (BCOs).
The deal closely follows WiseTech’s $230 million acquisition in January of Envase Technologies, a New Hampshire-based provider of transport management system software for intermodal trucking, drayage (container haulage), and landside logistics.
“This is another strategically significant acquisition that follows our acquisition of Envase Technologies last month,” Richard White, founder and CEO of WiseTech Global, said in a release. “It further extends our capability in one of our six key CargoWise development priority areas, integrating rail into our landside logistics offering in North America, the most complex and largest logistics region in the world. Blume also brings significant new talent, a portfolio of other valuable product capabilities, and further enhances our product development skill set.”
Blume has also been growing its footprint in logistics tools, most recently buying up the Atlanta-based tech firm LiveSource in 2022 for its supply chain risk management platform.