Recently listed WiseTech Global Ltd (ASX:WTC) has increased its shareholding in German logistics software company SoftShip AG from 19.9% to 43.0%.
SoftShip provides logistics solutions to the global sea-freight industry with a significant European customer base.
SoftShip’s group revenue was €7.9 million for the full year ended 31 December 2015.
SoftShip’s business will be complementary to WiseTech’s cloud-based software solutions for the logistics industry.
WiseTech listed on the ASX in April 2016 after raising about $168 million from an IPO at $3.35 per share.
The company hit unicorn status on its first day of trade by passing $1 billion in market cap after shares rose 16.2% to $3.89.
WiseTech’s shares were last trading at $4.88, an increase of 46% from the issue price.
The SoftShip transaction will have no impact on WiseTech’s full year 2016 result, which is expected to be announced to the market on 24 August 2016.
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