WiseTech Global’s billionaire chairman Richard White is banking on the logistics software giant’s largest acquisition ever to reassure restive investors that the company can grow beyond recent governance troubles, paying $3.5 billion to buy Texas-headquartered competitor e2open.
But brokers say they are concerned about whether WiseTech will be able to turn around its new business, which has struggled to keep clients and suffered a share price slide before being acquired by the ASX-listed giant.
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Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com