WiseTech Global Ltd (ASX:WTC) Acquires Leading Spanish Customs Solutions Provider, Taric

WiseTech Global (ASX:WTC) (OTCMKTS:WTCHF) today announced the acquisition of Taric, a leading customs management solutions provider in Spain.

Headquartered in Madrid, Taric offers a range of customs management solutions, including regulatory and tariff services, consultancy, training, process control and documentation management solutions to carriers, customs brokers, logistics providers, multinationals, and public institutions. Taric's customers include GEODIS, DB Schenker, DSV, XPO Logistics, Daimler-Benz, Grupo Correos, UPS, the European Commission, and many other logistics providers and organisations.

WiseTech Global's Founder and CEO, Richard White, said "Strengthening our presence across manufactured global trade routes is a central part of our growth strategy and Spain is a key European market for us. In joining the WiseTech Global family, the powerhouse Taric team bring Spanish customs capability, and tariff and regulatory expertise across Europe where its customs classification services have been widely used. With its strong track-record of bringing together highly specialised expertise in cross border trade operations, and developing innovative software solutions, Taric is a good fit for WiseTech Global.

"Together we will expand our footprint in Spain and Europe and our future development in Spanish-speaking Latin America to deliver high-productivity customs management solutions that improve our customers' operations in key trade flows. This acquisition brings strategic value to the WiseTech group as the Taric team can also accelerate the European development of our global BorderWise solution and extend customs and compliance capabilities for our recent acquisitions of leading freight forwarding solution providers, Forward and Softcargo, who together cover 16 countries in Latin America."

Taric's co-founder and Managing Director, Guillermo Salafranca, said "Having provided customs management solutions and consultancy for over 30 years to what is a very dynamic trading region, we're looking forward to taking this significant step forward for Taric. We are excited to join WiseTech, a company with strong global innovation capabilities, which will help us scale up our customs management solutions in Europe and globally."

Remaining under the leadership of Guillermo Salafranca, and co-founder and Technical Director, Enrique Miret, Taric's operations will be integrated within the WiseTech group and Taric will continue to deliver its customs software solutions directly to its own customers, along with WiseTech's flagship platform, CargoWise One.

CargoWise One enables logistics service providers to execute highly complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, tracking, land transport, ecommerce, and cross-border compliance and to manage their operations on one database across multiple users, functions, countries, languages and currencies.

This transaction follows WiseTech's other recent logistics solutions acquisitions in Argentina, Australasia, Belgium, Brazil, Canada, France, Germany, Ireland, Italy, the Netherlands, North America, Taiwan, Turkey, and Uruguay, and is in line with WiseTech Global's clearly stated strategy of accelerating long-term organic growth through targeted, valuable acquisitions.

About Taric

Since 1987, Taric has been a leading provider of customs management solutions, specializing in regulatory and tariff services, consultancy, training, process control and documentation management solutions, to carriers, freight forwarders, customs brokers, logistics providers, multinationals and public institutions. Taric's customers include GEODIS, DB Schenker, DSV, XPO Logistics, Daimler-Benz, Grupo Correos, UPS, the European Commission, and many other logistics providers and organisations.

Headquartered in Madrid, Taric has a team of over 75 people, together providing considerable customs and technical expertise.

For more information about Taric, visit http://www.taric.es


About WiseTech Global Ltd

WiseTech Global Ltd (ASX:WTC) is a leading developer and provider of software solutions to the logistics execution industry globally. Our customers include over 12,000 of the world's logistics companies across 150+ countries, including 43 of the top 50 global third-party logistics providers and 25 of the 25 largest global freight forwarders worldwide. Our flagship platform, CargoWise One, forms an integral link in the global supply chain and executes over 50 billion data transactions annually. At WiseTech, we are relentless about innovation, adding ~3,500 product enhancements to our global CargoWise platform in the past five years while bringing meaningful continual improvement to the world's supply chains. Our breakthrough software solutions are renowned for their powerful productivity, extensive functionality, comprehensive integration, deep compliance capabilities, and truly global reach.

The WiseTech Global group includes CargoWise One, ABM Data Systems, ACO Informatica, BorderWise, Bysoft, Cargoguide, CargoIT, CargoSphere, CMS Transport Systems, Containerchain, CustomsMatters, DataFreight, Depot Systems, EasyLog, Fenix, Forward, Intris, LSP Solutions, Microlistics, Multi Consult, Pierbridge, Prolink, Ready Korea, SaaS Transportation, SmartFreight, Softcargo, Softship, Systema, Taric, Trinium Technologies, Ulukom, Xware, zsoft, and znet Group.

     

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