WISETECH Global has acquired US company Blume Global for US$414 million.
A press release from WiseTech said Blume is a “provider of a leading solution facilitating intermodal rail in North America”.
WiseTech is acquiring Blume from funds managed by Apollo, EQT and other minority shareholders.
According to WiseTech, Blume manages intermodal containers and chassis on behalf of six of the seven Class 1 US railroads, ocean carriers and other intermodal equipment providers.
WiseTech CEO and founder Richard White said the acquisition was strategically significant and follows the company’s acquisition of Envase Technologies last month.
“It further extends our capability in one of our six key CargoWise development priority areas, integrating rail into our landside logistics offering in North America, the most complex and largest logistics region in the world,” Mr White said.
“Blume also brings significant new talent, a portfolio of other valuable product capabilities, and further enhances our product development skill set. This transaction demonstrates WiseTech’s continued investment in its CargoWise ecosystem, improving visibility and process efficiencies end-to-end across the supply chain for our customers.”
Blume Global CEO Pervinder Johar said: “Joining the WiseTech Global group means greater scale and resources to make logistics processes more productive, agile, dependable, and sustainable with innovative execution and visibility solutions”.
