WiseTech Global Limited (ASX:WTC) (WiseTech) announced its intention to move to full ownership of global ocean carrier logistics solution provider, Softship AG (Softship), a German domiciled company traded on the Frankfurt Stock Exchange (FSE). Softship is a leading provider of software solutions to the international liner shipping industry with a sizeable European customer base.
WiseTech has been a shareholder in Softship since 2014, established a controlling stake in July 2016, and has since increased its holding to 76.97% for a total investment of $21.6m (EUR 14.3m). Softship has been consolidated in WiseTech's financial statements since 1 July 2016.
WiseTech has announced to the German market its intended voluntary public acquisition offer (offer) to the remaining shareholders of Softship to purchase any and all outstanding shares. The offer is made at EUR 10.00 per share with 432,221 shares outstanding and will be executed through WiseTech's wholly owned German subsidiary, CargoWise GmbH.
Concurrently, the Management Board of Softship announced their intention to apply to de-list Softship shares from the FSE.
As with its targeted acquisitions in Germany, Italy, Brazil, Australia and Taiwan this year, this investment is in line with WiseTech's stated strategy of accelerating long-term organic growth through targeted, valuable acquisitions across new geographies and adjacencies.
About Softship AG
Founded in Germany in 1989 and traded on the Frankfurt Stock Exchange (Entry Standard), Softship is a leading provider of software solutions to the international liner shipping industry. Serviced from offices in Hamburg, Manilla, Miami and Singapore, Softship clients around the globe include deep-sea, shortsea and feeder container operators, liner agents, and terminal operators.
For more information on Softship AG, please visit: http://www.softship.com
Investor Relations Gail Williamson T: +61-2-8001-2200 E: firstname.lastname@example.org Media Peter Brookes T: +61-2-8234-0100 E: email@example.com Matthew Gregorowski T: +61-2-8234-0100 E: firstname.lastname@example.org
News Provided by ABN Newswire