SYDNEY, Australia – WiseTech Global (ASX:WTC), developer of leading logistics execution software CargoWise, today announced it has entered into an agreement to acquire Editrade S.A., a South American customs management software provider. The transaction deepens the CargoWise global customs capability in Latin America.
Founded in 1995 and headquartered in Santiago, Chile, Editrade S.A. provides software solutions for customs management and associated services to customs agencies and other companies linked to foreign trade in Chile and Ecuador while also providing services in Panama and Mexico. Customs Agents and BCOs (Beneficial Cargo Owners) use Editrade S.A. integrated suite of solutions to automate transactions, simplifying the flow of the customs management process to seamlessly manage import and export formalities. Editrade S.A. is being acquired from private shareholders.
Chile and Ecuador have a large number of international trading partners across North America, Latin America, Asia and Europe, representing a wide range of customs regulations for exporters to comply with.
Vlad Bilanovsky, Chief Execution Officer, WiseTech Global, said: “We are excited to welcome Editrade S.A. to the WiseTech group as they bring such deep and trusted local expertise in customs compliance and processing across several Latin American markets: Chile, Ecuador, Panama and Mexico. Delivering solutions across multiple countries is testament to the knowledge and skill of Editrade S.A. team. This foothold investment will become part of the CargoWise global customs solution, bringing us even closer to our target of covering 90% of global manufactured trade flows, enabling large global freight forwarders to efficiently manage their end-to-end shipment process all within CargoWise.”
Editrade S.A.’s operations will be integrated within the WiseTech Global group and remain under the current leadership of Juan Enrique Ortuzar Elton, CEO of Editrade S.A. Editrade S.A. will continue to deliver its solutions directly to its customers and offer other CargoWise solutions over time.
Juan Enrique Ortuzar Elton, CEO of Editrade S.A., said: “We’re very proud of our work to develop solutions that optimize management of the logistics chain and documentation, helping our clients to be more efficient, compliant and productive. Now we get to build on that valuable legacy and grow our business as part of WiseTech’s global team. We have a shared vision to use automation to simplify customs processing and compliance for more efficient international trade for our customers. This move also brings a range of new career opportunities for our people – we are looking forward to our journey together.”
Photo: (L-R) Vlad Bilanovsky – Chief Execution Officer, WiseTech global; Juan Enrique Ortuzar Elton - CEO, Editrade S.A.; and Andrew Cartledge - Interim CEO WiseTech Global.