Wisetech Global Acquires US Parcel Shipping TMS Provider, Pierbridge

Global logistics solutions group, WiseTech Global, announced the acquisition of Pierbridge, a leading parcel shipping transportation management solution (TMS) provider to medium and large enterprises in the United States.

Headquartered in Massachusetts, with development offices in the UK and Finland, Pierbridge offers an enterprise-class, multi-carrier, parcel shipping solution, which streamlines carrier selection, booking, label printing, tracking, invoice reconciliation and BI reporting. Pierbridge provides its parcel shipping TMS direct to customers and through solutions providers including Pitney Bowes, Logistyx and others. Pierbridge’s technology automates many large shipping operations across the manufacturing, healthcare, financial, technology and e-commerce sectors for end-users including Overstock.com, Siemens, US Homeland Security, BNY Mellon Bank, Texas Instruments, Genentech, Mazda, Home Depot and Menards.

WiseTech Global Founder and CEO, Richard White, said “E-commerce is driving significant parcel shipment growth internationally and domestically. Pierbridge’s parcel shipping TMS offering allows freight forwarders, warehouses and shippers, such as online retailers, to more efficiently manage high volumes of parcel shipments, and will enable our customers to ship with US-based global couriers. Pierbridge’s parcel shipping TMS is a scalable technology we can converge and expand with our nextgeneration e-commerce solutions as we drive deeper into global e-commerce fulfilment.”

“Across the WiseTech Global group, we are building out the cargo chain ecosystem to deliver real-time visibility, control over margins, faster movement, more efficient use of resources and error reduction across all transport modes for our customers. Bringing the Pierbridge parcel shipping TMS expertise and multi-region development teams into the WiseTech Global group now, expands and accelerates the development of our scalable high-volume domestic and international fulfilment e-commerce solutions. Along with our deep cross-border and international logistics capability and global execution platform, this transaction ensures we are well-placed to solve the increasingly large international e-commerce problem set.”

The purchase cost comprises ~$37.0m upfront with a further multi-year earn-out potential of up to ~$22.4m related to business and product integration, and revenue performance1 . With 2017 annual revenue of ~$9.3m and ~$0.1m contribution to EBITDA, this transaction, while of strategic value, is not material to the WiseTech Global group2 . Pierbridge is expected to be consolidated into WiseTech Global accounts from July 2018.

Along with our recent acquisitions in Canada, France, Belgium, Ireland, Germany, Italy, Turkey, North America, Argentina, the Netherlands, Brazil, Uruguay, Taiwan and Australasia, this adjacency transaction is in line with our stated strategy of accelerating long-term organic growth through targeted, valuable acquisitions.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s