An Australian company WiseTech Global is going to acquire Dallas-based supply chain software vendor E2open for $2.1 billion, furthering its vision to become the “operating system” for global trade and logistics.
Little known is that E2open has its roots in the Trade Matrix platform developed by the former i2 Technologies, with a system that provided multi-tier visibility for customers, largely in the high tech sector.
It grew mostly through acquisition, including a hostile but ultimately successful effort to acquire global trade software vendor Amber Road.
Other companies acquired by E2Open over many years include BluJay Solutions, INTTRA, Cloud Logistics, Zyme, Steelwedge , and Terra Technology.
Shipping software vendor WiseTech is not well known known in the US, but said the combination of the two companies accelerates deepens its plans to create a multi-sided marketplace connecting asset-based carriers, logistics providers, importers, exporters, shippers, and many other logistics and supply chain participants.
In a statement, WiseTech Global’s founder, executive chair, and chief innovation officer, Richard White, said the deal would bring little overlap between the two companies’ customers, products, and markets.
The acquisition comes as E2Open’s stock price has collapsed over the past three years from about $13.00 per share in mid-2021 to about $2.50 recently before the deal was announced. That deal values e2Open at $3.30 per share.
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The acquisition will add about 5,600 customers to WiseTech and is expected to add to earnings-per-share in the first year, WiseTech said. E2open employs some 4,000 people and had revenue of $608 million in the fiscal year ended February.
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