Freightos Acquires Luxembourg-Based Shipsta; Consideration Includes Cash Payment Of €4.5M From Existing Reserves And Issuance Of 640 Thousand Freightos Shares To Key Shipsta Shareholder
Portfolio Pulse from Benzinga Newsdesk
Freightos has acquired Luxembourg-based Shipsta for €4.5M in cash and 640,000 Freightos shares. This acquisition enhances Freightos' capabilities in freight digitization and is expected to contribute significantly to its revenue and market position.
August 19, 2024 | 10:54 am
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Freightos has acquired Shipsta for €4.5M in cash and 640,000 Freightos shares. This acquisition is expected to enhance Freightos' capabilities in freight digitization, contributing $800K to revenue in 2024 and $4-5M in 2025, with a moderate negative impact on Adjusted EBITDA.
The acquisition of Shipsta is a strategic move for Freightos, enhancing its capabilities and expanding its market. The expected revenue contribution and the company's goal of achieving positive Adjusted EBITDA by 2026 are positive indicators for short-term growth.
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