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

WiseTech shares climb 3% after confirming acquisition talks with e2open for $3.5 billion.

Acquisition is seen as part of WiseTech’s strategy to expand its product development and reach.

Goldman Sachs maintains a buy rating with a price target of AUD128.00 for WiseTech.

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.

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