Technology

WiseTech Global Ltd (ASX: WTC) Shares Rise 3% on Acquisition Talks with e2open (NYSE: ETWO)

Fri 02 May 25, 04:24 AM |

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Highlights

Shares of WiseTech Global Ltd (ASX: WTC) surged 3% in Friday’s trading, reaching AUD97.11, following confirmation that the logistics software provider is in talks to acquire U.S.-based supply chain platform provider e2open (NYSE: ETWO). The proposed deal is valued at an estimated $3.5 billion.

The acquisition aligns with WiseTech’s ongoing strategy to accelerate its product development and expand its ecosystem. The company’s management stated that the discussions are part of a broader program of proactive acquisitions, which includes both strategic and smaller tuck-in deals. Although the talks are ongoing, WiseTech warned that there is no certainty the deal will proceed or what the terms of any final agreement might be.

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