Australia-based WiseTech has acquired Blume Global for $414M to help companies save money by implementing efficient supply chain data analytics tools.
Blume expects to reach the break-even point in its cash flow by the end of the 2024 fiscal year.
- WiseTech is the operating company behind CargoWise, a software platform that enables its clients to manage their freight transport from only one account.
- Founded in 1994, the Australian company has made 30 acquisitions since its inception.
- WiseTech Global is publically traded and has over 2,000 employees.
- Blume Global offers freight supply chain software expertise in multiple verticals, including rail transport.
- WiseTech representatives stated that Blume's expertise in rail transport and its position in the North American market made it a compelling acquisition.
- Apollo, EQT, and other investors funded the acquisition opportunity.
- Based in California, the company was founded in 1993.