WiseTech Global (ASX:WTC) acquires Blume Global for US$414M

WiseTech Global (ASX:WTC) has announced the acquisition of Blume Global, a leading intermodal rail solutions provider, for US$414 million.

WiseTech Global says Blume Global brings a platform for execution and visibility of rail transport in North America, and extends WiseTech's presence in landside logistics.

It also says the acquisition is expected to generate FY242 revenues of US$65M to US$70M, with an anticipated EBITDA margin of 10%.

WiseTech Global says the transaction is expected to complete in April 2023, and will be funded through a combination of cash reserves, debt facilities, and new WiseTech Global shares.