Australian software company WiseTech Global on Monday announced its biggest deal to date, buying out U.S. cloud computing firm E2open for $2.1 billion to broaden its product offerings.
The deal, which will be fully funded through a new $3 billion debt facility underwritten by a syndicate of nine lenders including Deutsche Bank and HSBC, marks a significant bet by WiseTech on expanding its global footprint.
WiseTech, known for its flagship CargoWise platform, is offering $3.30 per E2open share — a 24.5% premium to the U.S. company’s last closing price.
The acquisition would significantly enhance WiseTech’s software capabilities, adding solutions in supply chain planning, procurement, trade compliance, and channel management.
The acquisition also arrives at a pivotal moment for the Sydney-headquartered company.
Billionaire co-founder and largest shareholder Richard White stepped down as chief executive in October 2024 after media reports alleged payments to a former sexual partner, prompting reputational scrutiny and a steep sell-off in shares.
E2open has recently been facing worries around its growth trajectory amid heightened macroeconomic uncertainty.
The latest acquisition dwarfs WiseTech’s previous deals, including the $414 million purchase of Blume Global in 2023, and positions the firm more squarely within the broader enterprise logistics and supply chain tech landscape.
Reuters
