Billionaire from Australia to Purchase U.S. Corporation for a Staggering $2.1 Billion
Australian logistics software company WiseTech Global, helmed by billionaire founder Richard White, intends to acquire cloud computing firm E2open for approximately $2.1 billion. The Sydney-based firm inked a deal with E2open Parent Holdings to purchase the U.S.-based company for $3.3 per share in cash, as per a statement issued on Monday.
This acquisition represents a significant step towards WiseTech's ambitious vision of becoming the operating system for global trade and logistics. According to White, executive chairman of WiseTech, acquiring E2open will significantly broaden the company's global reach.
WiseTech plans to finance the acquisition through a $3 billion loan from local and overseas banks. The transaction, subject to regulatory approvals, is expected to be completed by mid-2026. Until then, both companies will continue to operate separately.
The acquisition is expected to expand WiseTech's customer base by integrating E2open's extensive network of over half a million clients, including major ocean carriers. Founded in 2000 and headquartered in Texas, E2open offers supply chain software and operates in more than 20 countries.
When Forbes Asia published its list of Australia's 50 richest in February, White was the seventh wealthiest Australian with a net worth of $10.1 billion. Despite stepping down from his leadership role in late 2024 following personal scandals, White returned as executive chairman just four months later.
This strategic move is expected to strengthen WiseTech's position in the global logistics software market, potentially offering a competitive edge amidst challenging trade environments. It also provides new opportunities for customers, enriching WiseTech's ecosystem with E2open's robust network of ocean carriers, global shippers, and blue-chip clients. The transaction is expected to be immediately accretive to WiseTech's earnings and has received a strong endorsement from the market, as evidenced by a surge in WiseTech's share price following the announcement.
The acquisition allows WiseTech to create a more efficient multi-sided marketplace, connecting all trade and logistics stakeholders. It also enables WiseTech to leverage E2open's complementary products, enhancing overall logistics innovation and customer offerings. Ultimately, the acquisition aligns with WiseTech's broader strategy of fostering a more integrated and efficient logistics ecosystem globally.
Partnering with E2open, a U.S.-based cloud computing firm specializing in supply chain software, is anticipated to solidify WiseTech Global's position in the global logistics software market, providing a competitive edge in the face of challenging trade environments. This strategic alliance is also expected to expand WiseTech's technology offerings, leveraging E2open's complementary products and robust network of ocean carriers, global shippers, and blue-chip clients.
