WiseTech Global Acquires Global Rate Management Providers Cargoguide & CargoSphere
Global logistics software group, WiseTech Global, acquires two leading global rate management solution providers, Netherlands based Cargoguide and North Carolina based CargoSphere.
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WiseTech Global Limited has announced the acquisitions of two global rate management solution providers: Netherlands-based Cargoguide, a leading provider of global air freight rate management solutions and US-based CargoSphere, a leading provider of global ocean freight rate management solutions.
Headquartered in Utrecht, Cargoguide provides its rate management solutions to customers across 84 countries including to DHL, Expeditors, UPS, DSV, Geodis, Panalpina, Kuehne + Nagel, Schenker, Toll and Yusen and many other leading global freight forwarders and logistics providers.
Cargoguide's direct relationship with leading air carriers (such as Emirates, Lufthansa, Delta, Air France/KLM, and Qatar) and GSAs ensures optimal and efficient access to air freight rates contracted or real-time spot rates.
Headquartered in North Carolina, CargoSphere's advanced rate management platform ensures frictionless rate distribution and efficient access to confidential ocean freight rates.
CargoSphere provides its rate management solutions to more than 100 customers including Kuehne + Nagel, Dachser, NNR Global Logistics, M+R Spedag, Livingston International and many other leading global freight forwarders and logistics providers.
WiseTech Global CEO, Richard White, said "At WiseTech we are focused on improving productivity, quality, speed, visibility and manageability in the logistics industry and we are delighted Cargoguide and CargoSphere are joining the WiseTech family.
Combining their powerful air and ocean freight rate management solutions with the strengths of the WiseTech Global group and our leading integrated global execution platform, CargoWise One, will be a step forward for the freight forwarding industry."
"Both solutions will enhance existing rate management capabilities within CargoWise One, increasing efficiency, accuracy and workflow for our customers worldwide, while our innovative strength and development capacity will further accelerate multi-modal rate management developments. This will ultimately create a pathway to the deeper automation necessary to substantially increase productivity for freight forwarders grappling with exponential increases in volumes and margin pressure."
Cargoguide will remain under the leadership of Managing Director, Jorre Cobelens, who said "Joining forces with a global leader like WiseTech enhances our ability to revolutionise rate, margin and capacity management for the freight forwarding industry. With the combined strength of our organisations, we will expand further globally and accelerate our delivery and development of high productivity rate management solutions."
CargoSphere will continue to be led by Managing Director, Neil Barni, who said "We have dedicated over 15 years pursuing our product vision and goal of becoming the leading neutral global ocean rates platform for the shipping industry, and working with WiseTech over the last year we realised that we can both do more and deliver more value to our customers together."
"We will benefit from the global strength and powerful innovation capability of WiseTech and we remain committed to integrating with ocean carriers and with our customers, and to delivering on our vision for fully automated digital rate distribution."
Cargoguide and CargoSphere will continue to deliver its solutions independently, direct to their respective worldwide customers and now, also to the 7,000 logistics providers across 125 countries who utilise WiseTech's integrated supply chain execution solutions.
WiseTech's global integrated platform, CargoWise One, enables logistics service providers to execute highly complex transactions in areas such as freight forwarding, customs clearance, warehousing, shipping, land transport and cross-border compliance and to manage their operations on one database across multiple users, functions, countries, languages and currencies.
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