It is a good mandate for BofA.
WiseTech, a company with a market cap of nearly $20 billion, has historically turned to Morgan Stanley, Credit Suisse and boutique Blackpeak Capital for its banking work.
Richard White, founder and CEO of WiseTech, said the purchase of Envase “expands and strengthens our position in one of our top six CargoWise development priorities.” CargoWise is the Australian company’s flagship software platform used by logistics providers worldwide.
CargoWise’s six development areas, as revealed in WiseTech’s FY22 results, are landside logistics, warehouse, Neo, digital documents, customs and compliance, and international e-commerce.
It is the 42nd acquisition since WiseTech went public in April 2016.