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Wisetech Global Provides Update on Acquisition Earnout Arrangements

28 May 2020  |  09:28:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: WTC updates acquisition earnout arrangements

WiseTech Global announced that it has renegotiated earnout arrangements for a number of its strategic acquisitions, to allow for better alignment of resources and to further strengthen its robust balance sheet. Through 2H 2020, it has worked collaboratively with 17 of its acquired businesses to simultaneously reduce and close-out future earnouts and replace cash payments with equity. While this action further strengthens its balance sheet and liquidity, its priority across its strategic acquisitions is to accelerate CargoWise platform expansion and development, tighten focus.

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