WiseTech Global has announced the acquisition of Ulukom, a provider of logistics, warehouse and customs management solutions in Turkey.
The purchase cost includes AUD $2.9 million (U.S. $2.2 million) up front, with a further multiyear earn-out potential of up to AUD $4.6 million related to integration, product development, customer conversion and revenue growth.
Ulukom is expected to be consolidated into WiseTech’s accounts from July. “Remaining under the leadership of İlker Pakten and Erkin Findik, Ulukom’s operations will be integrated within the WiseTech Global group, and Ulukom will continue to deliver its software solutions directly to its own customers, along with WiseTech’s integrated global logistics platform, CargoWise One,” WiseTech said.
Ulukom’s customers include Maersk Line, MSC, CMA CGM, Ocean Network Express, APL, Arkas Line, APL, CEVA Logistics, Panalpina and Celebi Ground Handling.
WiseTech has said it strives to accelerate long-term organic growth through acquisitions. Last month it announced the acquisitions of three logistics solutions providers: PB & Associates (Forward), Softcargo and EasyLog.
WiseTech said it expects revenues for fiscal year 2018, which runs from July 1, 2017 to June 30, 2018, to range between AUD $210 million and AUD $220 million and its EBITA to range between AUD $71 million and AUD $75 million. The company posted revenues of AUD $153.8 million for fiscal year 2017 with an EBITDA of AUD $53.9 million.
WiseTech will announce its fiscal year 2018 results on Aug. 22.