WiseTech continues rapid expansion with move for Pierbridge
21 / 06 / 2018
Rapidly expanding logistics software firm WiseTech Global announced its third acquisition in less than two months by purchasing parcel transportation management solution (TMS) provider Pierbridge.
Headquartered in Massachusetts, with development offices in the UK and Finland, Pierbridge offers a multi-carrier parcel shipping solution, which allows for carrier selection, booking, label printing, tracking, invoice reconciliation and BI reporting.
Pierbridge provides its parcel shipping TMS direct to customers and through solutions providers including Pitney Bowes, Logistyx and others.
Pierbridge’s technology automates many large shipping operations across the manufacturing, healthcare, financial, technology and e-commerce sectors for end-users including Overstock.com, Siemens, US Homeland Security, BNY Mellon Bank, Texas Instruments, Genentech, Mazda, Home Depot and Menards.
Pierbridge will remain under the leadership of Bob Malley.
WiseTech Global founder and chief executive Richard White said: “E-commerce is driving significant parcel shipment growth internationally and domestically.
"Pierbridge’s parcel shipping TMS offering allows freight forwarders, warehouses and shippers, such as online retailers, to more efficiently manage high volumes of parcel shipments, and will enable our customers to ship with US-based global couriers.
"Pierbridge’s parcel TMS is a scalable technology we can converge and expand with our next-generation e-commerce solutions as we drive deeper into global e-commerce fulfilment.”
“Across the WiseTech Global group we are building out the cargo chain ecosystem to deliver real-time visibility, control over margins, faster movement, more efficient use of resources and error reduction across all transport modes for our customers.
"Along with our deep cross-border and international logistics capability and global execution platform, this transaction ensures we are well-placed to solve the increasingly large international e-commerce problem set.”
Earlier this month, WiseTech swooped on Fenix Data Systems, a customs management solutions provider in Canada. In late June, the company purchased Turkey-based Ulukom, which offers a range of logistics, customs, freight forwarding and warehouse support software.
The company has spoken in the past of its strategy of accelerating long-term organic growth through targeted acquisitions.
Last year, the ASX-listed company made nine acquisitions. However, WiseTech’s share price took a hit with the announcement of its first-half 2018 results as it failed to issue a profit guidance upgrade.
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