Australia-based global logistics software provider WiseTech Global continues its acquisition spree with the purchase of SaaS Transportation, a provider of transportation management solutions for less-than-truckload shipping.
Destin, Fla.-base SaaS Transportation provides TMS solutions to third-party logistics providers, freight payment companies, shippers and carriers.
SaaS Transportation is expected to be consolidated into WiseTech’s accounts in July.
The purchase cost includes AUD $2.1 million (U.S. $1.6 million) up front, as well as a further multiyear earn-out potential of up to AUD $1.7 million related to business and product integration and revenue performance, WiseTech said.
SaaS Transportation will remain under the leadership of Ken Pehanick and will continue to develop and deliver its LTL shipping solutions directly to its U.S. customers.
Commenting on the deal, WiseTech Global founder and CEO Richard White said, “Adding specialist provider SaaS Transportation, which has connections to over 70 U.S. LTL carriers, valuable market knowledge and U.S. LTL road-rate capabilities, to the WiseTech Global group fits into our adjacency acquisition strategy and will extend our road-booking and road-rates offering to our customer base.”
WiseTech repeatedly has said it strives to accelerate long-term, organic growth through targeted, valuable acquisitions.
SaaS Transportation is the seventh acquisition that WiseTech Global has announced since January.
Looking back since the start of the year:
• Earlier this month WiseTech announced the acquisition of Turkish logistics and customs solutions provider Ulukom;
• In April, WiseTech announced the acquisitions of two Latin American freight forwarding and logistics solutions providers — PB & Assoc. (Forward) and Softcargo — as well as a French customs solutions provider, EasyLog;
• In March, WiseTech announced the acquisition of LSP Solutions, a provider of customs and warehouse management solutions in the Netherlands;
• And in February, WiseTech announced the acquisition of Intris N.V., a Belgian logistics solutions provider.
Amid rapid expansion, WiseTech is forecasting year-over-year growth in revenues and EBITDA for fiscal year 2018, which runs from July 1, 2017 to June 30, 2018. The company expects revenues for the fiscal year to range between AUD $210 million and AUD $220 million and its EBITA to range between AUD $71 million and AUD $75 million, up from revenues of AUD $153.8 million and an EBITDA of AUD $53.9 million for fiscal year 2017.
WiseTech will announce its fiscal year 2018 results on Aug. 22.