SYDNEY, Australia – WiseTech Global (ASX:WTC), developer of leading logistics execution software CargoWise, today announced it has acquired Singeste - Sistemas de Informática, Lda (Singeste), a leading developer of IT solutions for the customs sector in Portugal.
Founded in 1986, and headquartered in Seixal in the Lisbon Metropolitan Area, Singeste’s flagship solution, GIDWin, communicates directly with Portugal’s Tax and Customs Authority, to facilitate and optimize customs processes for customs brokers and freight forwarders. Singeste’s customers include international freight forwarders and shippers that operate in Portugal, such as DHL, FedEx, UPS, MSC and Expeditors.
Portugal has the fifth highest container port throughput in Southern Europe[1]. It is a strategic gateway between Europe, Africa, and the Americas with its ports in Lisbon and Porto serving as key hubs for maritime trade. While Portugal has traditionally exported agricultural products, textiles and clothing, exports of technological equipment are increasing. Its main exports are to Spain, France, Germany, US and UK, while imports are from Spain, Germany, France, China and the Netherlands[2].
Vlad Bilanovsky, Chief Execution Officer WiseTech Global, said: “Singeste brings three decades of experience and technical expertise in meeting the customs needs of Portugal and the European Union that will become available as part of the CargoWise global customs solution.
“This acquisition further confirms our relentless commitment to developing a truly global customs platform, the value of which is confirmed as more large global freight forwarders increase their use of our CargoWise global customs capability. With the addition of Portugal, our global customs system will cover more global manufactured trade flows, taking us closer to our 90% target,” Mr Bilanovsky said.
Singeste’s operations will be integrated within the WiseTech Global group and remain under the current leadership of Pedro Bacelar. Singeste will continue to deliver its solutions directly to its customers and offer other CargoWise solutions over time.
Pedro Bacelar, CEO of Singeste, said: “By joining WiseTech Global we not only have the opportunity to make GIDWin available to CargoWise customers doing business in Portugal, our customers will also be able to access CargoWise’s customs and compliance capabilities in other countries, simplifying customs processing for international trade. We also look forward to offering other CargoWise modules to our customers over time. I’ve long had an ambition to develop customs compliance in multiple countries and am excited to work with the WiseTech team on this revolutionary global project.”
Photo: (L-R) Vlad Bilanovsky, Chief Execution Officer WiseTech Global and Pedro Bacelar, CEO of Singeste.
[1] UNCTAD - https://unctadstat.unctad.org/datacentre/dataviewer/US.ContPortThroughput
[2] Lloyds Bank - Foreign trade figures of Portugal - International Trade Portal (lloydsbanktrade.com)