M&A Deal Summary

WiseTech Global Acquires Blume Global

On February 16, 2023, WiseTech Global acquired software company Blume Global from Apollo Global Management and EQT for 414M USD

Acquisition Highlights
  • This is WiseTech Global’s 17th transaction in the Software sector.
  • This is WiseTech Global’s largest (disclosed) transaction.
  • This is WiseTech Global’s 7th transaction in the United States.
  • This is WiseTech Global’s 2nd transaction in California.

M&A Deal Summary

Date 2023-02-16
Target Blume Global
Sector Software
Buyer(s) WiseTech Global
Sellers(s) Apollo Global Management
EQT
Deal Type Add-on Acquisition
Deal Value 414M USD

Target

Blume Global

Pleasanton, California, United States
Blume Global is a developer of software package connects asset owners and their users by hosting real time capacity from several major equipment programs spanning 120+ markets in North America. Blume Global was founded in 1994 and is based in Pleasanton, California.

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Buyer(S) 1

Buyer

WiseTech Global

Schaumburg, Illinois, United States

Category Company
Sector Software
DESCRIPTION

WiseTech Global (CargoWise) is a cloud-based single–platform software solution that streamlines operations, accounts, and management.


DEAL STATS #
Overall 29 of 29
Sector (Software) 17 of 17
Type (Add-on Acquisition) 28 of 28
State (California) 2 of 2
Country (United States) 7 of 7
Year (2023) 3 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-24 Envase

Dover, New Hampshire, United States

Envase provides mission-critical, cloud-based transportation management systems ("TMS") enterprise software and mobile applications to the intermodal transportation industry, with a core focus on the drayage trucking niche. The software merges order entry, dispatch, container tracking, electronic data interchange (EDI), API connectivity, document imaging, invoicing, settlements, and business intelligence, among other functions, into a single, streamlined system providing carrier efficiencies and container visibility over the intermodal supply chain. Envase is based in Dover, New Hampshire.

Buy $230M

Seller(S) 2

SELLER

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 63 of 67
Sector (Software) 1 of 2
Type (Add-on Acquisition) 19 of 21
State (California) 7 of 8
Country (United States) 48 of 51
Year (2023) 1 of 3
Size (of disclosed) 15 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-31 Western Digital

San Jose, California, United States

Western Digital is a developer and manufacturer of storage products that enable people to create, manage, experience and preserve digital content. The Company designs and makes storage devices, networking equipment and home entertainment products under the WD, HGST and G-Technology brands. Western Digital was formed in 1970 and is based in San Jose, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-14 Univar

Downers Grove, Illinois, United States

Univar Solutions is a global chemical and ingredient distributor and a provider of value-added services to customers across a wide range of industries. Univar was founded in 1924 and is based in Downers Grove, Illinois.

Buy $8.1B
SELLER

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.


DEAL STATS #
Overall 171 of 186
Sector (Software) 6 of 6
Type (Add-on Acquisition) 69 of 72
State (California) 2 of 2
Country (United States) 23 of 27
Year (2023) 2 of 9
Size (of disclosed) 31 of 42
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-15 VBill

Beijing, China

VBill offers a full range of payment solutions, including bank card acquiring, omnichannel payment, Internet payment, and others. By leveraging its extensive merchant base, VBill also provides value-add services, such as fintech-enabled consumer lending. VBill was founded in 2011 and headquartered in Beijing, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-01 Radius Global Infrastructure

Bala Cynwyd, Pennsylvania, United States

Radius Global Infrastructure is an owns and acquires critical digital infrastructure, including ground, tower, rooftop and in-building cell sites, in over 20 countries across North and South America, Europe, and Australia. Radius Global Infrastructure is based in Bala Cynwyd, Pennsylvania.

Buy $3.0B