Software company WiseTech Global has announced its acquisition of MatchBox Exchange, an online ‘open market’ platform. It hopes the acquisition will optimize the reuse of containers and eliminate time-wasting truck trips. The acquisition was made through private shareholders.
A leading global software provider, WiseTech Global also has a single-platform solution logistics execution software called CargoWise, which allows logistics companies to have access to the same information at the same time.
WiseTech Global CEO Richard White welcomed the acquisition of MatchBox exchange. “This transaction demonstrates WiseTech’s continued investment in our landside logistics development priority, enhancing our CargoWise ecosystem in the container optimization space while helping to reduce traffic congestion in ports from unnecessary transport of empty containers. This brings us another step closer to delivering on our vision to be the operating system for global logistics.”
MatchBox Exchange solves the container transit problem
Transit times of containers are something every shipping company or transport company has had to deal with; it’s just part of the process. WiseTech creates a unique platform that facilitates collaboration between shipping and logistics firms. It also avoids transiting through often busy and costly container parks.
MatchBox works hand-in-hand with shipping companies to allow customers to reuse containers easilty. The end goal of using MatchBox’s ‘open market’ is to reduce costs and improve operational efficiencies – shipping companies can even save money without storing containers. The company services ten markets, including Australia, New Zealand, Philippines, Singapore and Malaysia.
CEO Carl Marchese says, “Joining WiseTech Global will provide the scale and resources to grow the use of the MatchBox Exchange platform in new landside logistics markets, optimizing the reuse and exchange of empty shipping containers, driving better utilization of trucks and improving collaboration and productivity through digital processes.”
WiseTech Global has an eye for acquisitions
In February 2023, WiseTech Global acquired US-based Blume Global in a strategic business move.
In 2018, the company announced the acquisition of three leading logistics solutions companies in Latin America and Europe: Forward, Softcargo, and Easy Log. WiseTech Global made this business move to strengthen its global market presence.
Founded in 1994, WiseTech Global, over 17,000 logistics organizations use WiseTEch Global’s software, including 24 of 25 global freight forwarders and 44 global third-party logistics providers. Before founding WiseTech Global, its CEO Richard White was the founder and managing director of Real Tech Systems Integration.
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About the author
Sharl is a qualified journalist. He has over 10 years’ experience in the media industry, including positions as an editor of a magazine and Business Editor of a daily newspaper. Sharl also has experience in logistics specifically operations, where he worked with global food aid organisations distributing food into Africa. Sharl enjoys writing business stories and human interest pieces.
