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Wisetech Global Announces Acquisition of Brazilian Customs Solution Provider, Bysoft

05 Jul 2017  |  11:49:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: WTC to acquire Brazilian customs solution provider, Bysoft

Wisetech Global (Wisetech) announced the acquisition of Bysoft Solucoes em Sistemas Para Comercio Exterior Ltda (Bysoft), the largest provider of customs and logistics compliance solutions to the logistics industry across Brazil. The Company will pay $11.8m (R$30m) on completion plus a potential earnout payment for future revenue growth. The total purchase cost will be 3.8x 2018 Bysoft revenue. With current annual revenue of $3.4m (R$8.7m) and breakeven NPAT, this transaction is not material to the Company. Bysoft is expected to be consolidated into WiseTech group accounts from August 2017. This transaction is in line with the Company's stated strategy of accelerating long-term organic growth through small, targeted, valuable acquisitions across new geographies and adjacencies.

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