Wisetech Global faces new regulator search

• The Australian Competition and Consumer Commission executed search warrants at WiseTech Global regarding competition law.
• The regulatory action follows an earlier investigation launched by the Australian Securities and Investments Commission.
• The company stated that the enquiries relate to past acquisitions and commercial software pricing practices.

WiseTech Global (ASX:WTC) has had search warrants executed at its offices by the Australian Competition and Consumer Commission.

Regulators are investigating alleged contraventions of competition law involving Australian Investment Exchange Limited.

This marks the second time in twelve months that WiseTech Global has faced regulatory document seizures following previous raids by the Australian Securities and Investments Commission and the Australian Federal Police.

Regulatory scrutiny previously focused on the $3.2 billion acquisition of American freight business e2open.

Documents lodged with regulators highlighted customer concerns regarding software pricing and market concentration in import declaration systems.

Market analysts continue to monitor regulatory developments as the technology firm navigates ongoing compliance reviews.

Following the announcement, the WiseTech Global share price was down at $39.22.