WiseTech Global Ltd [ASX:WTC] surged 2.87% at time of writing today.
WiseTech provide cloud-based software solutions around the world and are now standing at a healthy market cap of $3.227 billion.
They were founded in 1994 and are based in Alexandria, Australia.
Despite the share increase, WiseTech were trading at $16.27 a share back in February. They are now trading at $11.12.
The company has been steadily growing since last year which is a positive sign.
WiseTech pushes forth growth by Gaining LSP Solutions
This month WiseTech acquired LSP solutions — a provider of customs and warehouse management solutions based in the Netherlands.
Stat times reported that WiseTech CEO stated:
‘With Europe’s largest port, and a well-established and dynamic trade flow, the Netherlands is a critical transport hub for us. Bringing LSP Solutions into our group will deepen our reach in this important market.’
The acquisition will also contribute to their innovation capabilities and supply chain platform.
LSP Solutions will be integrated into WiseTech. Furthermore, LSP will continue to deliver software solutions to its customers, while using WiseTech’s global platform, CargoWise One.
Richard stated that LSP Solutions will help WiseTech reach out to all of their customers, and provide better support in regard to logistical operations.
Other business expansions
Last month, WiseTech opened their Tokyo office, expanding their operations in Asia.
To celebrate, they held a launch event at Conrad Hotel in Tokyo. Many industry leaders attended the event.
WiseTech has over 7,000 massive logistics providers using their global integrated platform, which is CargoWise One.
WiseTech state that their expansions throughout Asia have contributed to increased productivity for all of their customers.
CargoWise One gives providers the capability to complete highly complicated transactions in logistical areas such as freight forwarding and warehousing factors.
WiseTech continue to build and develop operating systems for global logistics.
For Money Morning