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Wisetech Global Ltd (ASX:WTC) is bouncing back from a tumultuous year in 2024 with plans to acquire ImpexDocs – an Australian company that provides trade management solutions to exporters – to its portfolio.
Wisetech has agreed to acquire the Sydney-based company, arguing ImpexDocs’ functionality would add value to its family of compliance, trade, and logistics products.
ImpexDocs’ main offering is a software suite that allows export supply chain executives to manage processes and documentation in international trade – including sales and purchase orders, through to shipping and compliance – in addition to providing visibility of the status of orders, shipments, and contracts.
The company has both regional and international reach, with clientele throughout Australia, New Zealand, and the United States.
Per the agreement, ImpexDocs would remain under the leadership of its founder Manish Desai, and customers would still be able to access its solutions.
Wisetech CEO Vlad Bilanovsky said the company would be an important addition.
“The acquisition of ImpexDocs brings proven GTM capability to WiseTech’s solutions as well as a team of domain experts in global trade execution and compliance,” he said.
“This will help accelerate ongoing product development within digital documentation – one of our six priorities to extend the CargoWise ecosystem.”
The acquisition sets Wisetech up to start 2025 on a positive note following last year’s resignation of CEO Richard White amid media scrutiny and accusations of misconduct, of which he was cleared by an ongoing review.
At 12:45 AEDT, Wisetech was trading at $126.59 – a fall of 0.1% since the market opened.
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