Richard White’s biggest bet could make or break WiseTech
The billionaire is making the biggest deal in the software firm’s history against a backdrop of internal instability and external scrutiny, and buying a company clearly in turnaround mode.
It’s hard to overstate the size of the gamble that WiseTech Global executive chairman Richard White has taken by agreeing to buy Texas-headquartered software group e2open for $US2.1 billion ($3.2 billion).
While WiseTech and White are experts at acquisitions, having completed a staggering 55 deals to build the $33 billion logistics software giant, e2open is a very different beast. The purchase price is more than five times WiseTech’s next biggest acquisition and will involve the company taking on a level of debt far beyond anything investors have seen in its 31-year history.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
