Billionaire from Australia's WiseTech to Buy American Company for a Staggering $2.1 Billion
WiseTech Global, an Australian logistics software company founded by billionaire Richard White, plans to acquire U.S. cloud computing firm E2open for $2.1 billion. The deal, announced on Monday, involves a cash payment of $3.3 per share to E2open Parent Holdings.
The acquisition, marked as a strategically significant step towards becoming the operating system for global trade and logistics, is financed by a $3 billion loan from local and overseas banks. The deal, which is subject to regulatory approvals, is expected to be completed by mid-2026. WiseTech and E2open will continue to operate independently until the transaction is finalized.
The acquisition will allow WiseTech to significantly expand its customer base, adding E2open's network of over half a million clients, including major ocean carriers. Texas-based E2open, founded in 2000, offers supply chain software and operates in more than 20 countries.
The combined entity is expected to offer a leading end-to-end platform for managing complex supply chains, improving efficiency and resilience across global supply chains. The acquisition also reinforces both companies' commitment to innovation, with the potential to accelerate the development of new technologies and solutions in the logistics sector.
As Australia's seventh richest person, White has a net worth of $10.1 billion, according to Forbes Asia's list of Australia's 50 richest, published in February. After stepping down from WiseTech in late 2024 amid personal scandals, he returned as executive chairman just four months later.
Regulatory challenges and the need for seamless integration between the two companies are potential hurdles that the combined entity may face. Once these obstacles are overcome, the acquisition aims to position WiseTech Global and E2open as major players in the global trade and logistics industry.
The acquisition, financed by a $3 billion loan, allows WiseTech Global, an Australian logistics software company, to significantly expand its customer base by incorporating E2open's network of over half a million clients. This strategic move is expected to position WiseTech Global and E2open as major players in the global data-and-cloud-computing and technology sectors, offering a leading end-to-end platform for managing complex supply chains.
