WiseTech Global Makes Record $2.1 Billion Acquisition of E2open
Australian software company WiseTech Global has announced its largest deal to date, acquiring U.S. cloud computing firm E2open for $2.1 billion. The acquisition, which will broaden WiseTech’s product offerings, will be fully funded through a new $3 billion debt facility underwritten by a syndicate of nine lenders, including major financial institutions Deutsche Bank and HSBC.
The deal represents a significant strategic move by WiseTech to expand its global presence in the cloud computing market. The company is offering $3.30 per E2open share, representing a 24.5% premium to the U.S. firm’s last closing price. This premium demonstrates WiseTech’s commitment to securing the acquisition and reflects the strategic value of E2open’s capabilities in the cloud computing sector.
WiseTech, known for its flagship CargoWise platform, is making a substantial bet on growth through this acquisition. The integration of E2open’s cloud computing capabilities is expected to enhance WiseTech’s product portfolio and strengthen its competitive position in the global software market.
