WiseTech Global has acquired Stockholm-based customs and logistics solutions provider, CargoIT.
“Sweden is a highly developed market and the largest in Scandinavia, so bringing CargoIT into the WiseTech Global group gives us a strong foothold in a very active trade region,” said WiseTech Global Founder and CEO, Richard White.
“CargoIT’s considerable Swedish customs management experience further enhances our provision of integrated cross-border logistics solutions to customers worldwide, alongside the significant productivity benefits we can deliver to the local market through our integrated CargoWise One global platform,” he said.
“For over 30 years we have been providing highly innovative and effective products for our customers and today we are a leading provider of customs management solutions in Sweden,” said CargoIT co-founder, Bjorn Wiklund. “Joining forces with a global leader like WiseTech will help us develop even more flexible and higher productivity cross-border compliance solutions.”
“This is a great opportunity for CargoIT and our customers, which we will continue to work closely with,” said CargoIT co-founder and Senior Product Manager, Christina Wiklund.
“WiseTech brings significant global expertise and extensive development capabilities that we can tap into to create even more effective logistics solutions for CargoIT and the wider region,” she said.
Co-founders, Bjorn and Christina Wiklund will remain with the business and continue to work with its customers to deliver innovative customs and logistics management solutions across Scandinavia, along with WiseTech’s global logistics platform, CargoWise One.
Across 130 countries, CargoWise One enables logistics service providers to execute highly complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, tracking, land transport, e-commerce, and cross-border compliance and to manage their operations on one database across multiple users, functions, countries, languages and currencies.
This transaction follows WiseTech’s other recent logistics solutions acquisitions in Argentina, Australasia, Belgium, Brazil, Canada, France, Germany, Ireland, Italy, the Netherlands, North America, Spain, Taiwan, Turkey, the UK and Uruguay, and is in line with WiseTech Global’s clearly stated strategy of accelerating long-term organic growth through targeted, valuable acquisitions.