29 Jan Wisetech Global Sells Expedient Software
WiseTech Global has bowed to pressure from the Australian Competition & Consumer Commission (ACCC) to sell Expedient Software – the cargo logistics platform it acquired as part of its $3.2B buyout of New York-listed e2open – after customers flagged concerns over its potential market dominance.
Both the WiseTech and Expedient platforms are widely used to manage customs processes, warehouse administration and freight bookings when shipping goods around the globe.
As part of its review, the ACCC review received submissions claiming the addition of Expedient would give WiseTech about 90% of the commercial software used to generate import declarations. Whilst WiseTech maintained this agreement did not lessen competition in the Australian market, they voluntarily agreed to enter an enforceable undertaking with the ACCC to sell Expedia in response to the concerns.
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