Richard White, then-chief executive officer of WiseTech Global, gestures during the Morgan Stanley Australia Summit in Sydney in June 2024.
Brent Lewin/Bloomberg
WiseTech Global, the Australian logistics software company founded by Australian billionaire Richard White, plans to buy U.S.-based cloud computing firm E2open for $2.1 billion.
The Sydney-based company signed a deal with E2open Parent Holdings to acquire the company for $3.3 per share in cash, according to a statement released on Monday.
“Acquiring E2open is a strategically significant step in achieving our expanded vision to be the
operating system for global trade and logistics,” White, executive chairman of WiseTech, said in the statement.
WiseTech will finance the acquisition through a $3 billion loan from local and overseas banks. The deal, which is supposed to be completed by mid-2026, is subject to regulatory approvals. Both companies will operate separately until the transaction is completed.
The acquisition will help WiseTech increase its customer base by adding a network of 500,000 clients, including major ocean carriers. Founded in 2000, Texas-based E2open offers supply chain software and operates in more than 20 countries.
With a net worth of $10.1 billion when Forbes Asia published its list of Australia’s 50 richest in February, White was Australia’s seventh richest person. He founded WiseTech in 1994 and led it for 30 years before stepping down in late 2024 amid personal scandals. Just four months later, he returned as executive chairman.