WISETECH Global has today (12 December) announced it has entered into an agreement to acquire BSM Global, a provider of trade management systems and solutions.
Supply chain software developer WiseTech, confirmed BSM, headquartered in Sydney, is being acquired from private shareholders.
The move will see BSM’s global trade management documentation and contract management capability added to WiseTech’s logistics execution software CargoWise.
Established in 2003, BSM operates across Australia, New Zealand, Singapore and the United States, providing trade management systems and solutions that connect companies with their trading partners globally.
BSM’s global trade management (GTM) solution allows exporters to plan and manage the contracts, financial, and commercial arrangements with their trading partners and produce relevant international trade documents.
BSM’s GTM also allows supply chain managers to plan and execute their international transaction, and reportedly removes manual processes by automating data transfer between supply chain managers, their logistics service providers, their customers and some government or statutory bodies.
WiseTech confirmed BSM’s functionality will become part of the company’s family of trade, transport, and logistics products.
BSM’s customers will continue to access its solution and product support team, with BSM to remain under the current leadership of company CEO Jason Flemming.
Vlad Bilanovsky, chief executive officer of WiseTech Global, said, “When I first met Robert Flemming, the founder of BSM, several years ago, I was impressed with his vision, passion and drive to facilitate global trade by automating contract, logistics and operational processes within the international supply chain”.
“This aligns with WiseTech’s relentless focus on automating logistics execution. BSM brings a proven solution for GTM as well as a team with extremely deep domain knowledge in global trade, transport and logistics.”
BSM Global CEO Jason Flemming said, “Joining WiseTech Global provides a new level of scale and resources to continue my father’s vision to grow and enhance BSM’s GTM solutions globally, and invest in its ongoing innovation as part of the WiseTech ecosystem”.
“It also expands the career opportunities for our employees as part of the leading global logistics technology company.”
