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Australia's WiseTech rises on exploring deal to buy US firm

ReutersMay 2, 2025 1:24 AM
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WiseTech Global WTC.AX rises as much as 2.9% to A$97.110, highest since February 26

Stock gains ~9% so far this week

Tech firm participating in strategic review of U.S.-based cloud logistics co E2open ETWO.N, following media speculation around a potential buyout

Citi says, "We do see strategic benefits in WiseTech acquiring the Global Trade Management and Logistics businesses from E2Open"

Adds potential deal will help WTC develop new products

Stock last up 1.2%, trims YTD losses to 22%

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