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Wisetech Global Announces Acquisition of Land Transport Solutions Provider, CMS Transport Systems

14 Aug 2017  |  11:48:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: WTC acquires land transport solutions provider, CMS

Wisetech Global announced the acquisition of CMS Transport Systems (CMS), a leading provider of road transport and logistics management systems across Australia and NZ. The purchase cost is $5m with further earn-out potential of $4m over 4 years related to key business deliverables which strongly align with the Company's transport roadmap. With current annual revenue of $3.9m and $0.2m EBITDA this transaction is not material to the Company. CMS is expected to be consolidated into WiseTech group accounts from September 2017.

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