Global logistics solutions group, WiseTech Global (ASX:WTC), today announced the acquisition of Ulukom, a leading logistics and customs solutions provider in Turkey.
Headquartered in Istanbul, Ulukom offers a range of logistics, freight forwarding and warehouse solutions.
WiseTech Global Founder and CEO, Richard White, says as the bridge between Europe, the Middle East and Asia, and one of the EU’s largest trading partners, Turkey has long been a key market in the region and globally.
The purchase cost comprises $2.9m upfront, with a further multi-year earn-out potential of up to $4.6m related to integration, product development, customer conversion and revenue growth .
Shares in WiseTech Global (ASX:WTC) are up 0.14 per cent to $14.21.