WiseTech Global has acquired Editrade S.A., a customs management software provider in South America, enhancing its CargoWise platform's capabilities in Latin America.
Target Information
WiseTech Global (ASX:WTC), a prominent developer of logistics execution software, has announced its acquisition of Editrade S.A., a customs management software provider situated in South America. Founded in 1995 and headquartered in Santiago, Chile, Editrade S.A. specializes in delivering software solutions for customs management and related services. It caters to customs agencies and companies involved in foreign trade in Chile and Ecuador, while also extending services to Panama and Mexico. The integrated suite of solutions provided by Editrade S.A. is utilized by Customs Agents and Beneficial Cargo Owners (BCOs) to automate transactions, thereby simplifying the customs management process for both imports and exports.
Editrade S.A. is being acquired from private shareholders, enhancing WiseTech’s capability in the global customs sector, particularly in Latin America. This acquisition represents a strategic move to deepen WiseTech's presence in a region rich with international trading partners across North America, Latin America, Asia, and Europe. These partners are subject to various customs regulations, which Editrade helps navigate effectively.
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Industry Overview
The customs management software industry in Latin America is experiencing rapid growth, driven by increased globalization and the need for compliance with diverse trade regulations. Countries like Chile and Ecuador maintain extensive trade relations
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