WiseTech Global gains foothold in Sweden

Global logistics software group WiseTech Global has continued its takeover strategy after acquiring CargoIT, a leading customs management and logistics solutions provider in Sweden.

The Stockholm-headquartered company offers customs management, freight forwarding, warehousing and transport solutions to over 150 customers including DHL, Kerry Logistics, SAS Cargo and several automotive manufacturers.

Richard White, WiseTech Global founder and chief executive, said: “Sweden is a highly developed market and the largest in Scandinavia, so bringing CargoIT into the WiseTech Global group gives us a strong foothold in a very active trade region.

“CargoIT’s considerable Swedish customs management experience further enhances our provision of integrated cross-border logistics solutions to customers worldwide, alongside the significant productivity benefits we can deliver to the local market through our integrated CargoWise One global platform."

CargoWise One enables logistics service providers to execute complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, tracking, land transport, e-commerce, and cross-border compliance and to manage their operations on one database across multiple users, functions, countries, languages and currencies.

CargoIT co-founders Bjorn and Christina Wiklund expect that joining forces with WiseTech will help the Swedish firm to develop more flexible and productive logistics and cross-border compliance solutions for its customers as it taps into WiseTech’s extensive development capabilities.

WiseTech has recently acquired logistics solutions providers based in Argentina, Australasia, Belgium, Brazil, Canada, France, Germany, Ireland, Italy, the Netherlands, North America, Spain, Taiwan, Turkey, the UK and Uruguay.

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