Predict your next investment

SOFTWARE (NON-INTERNET/MOBILE) | Supply Chain & Logistics Software
ulukom.com.tr

See what CB Insights has to offer

Stage

Acquired | Acquired

Valuation

$0000 

About Ulukom

Ulukom is a provider of logistics, warehouse and customs management solutions. Ulukom's software automates critical business processes, increases staff productivity and operates according to international industry and regulatory requirements.

Ulukom Headquarter Location

Beech Street, YES Business Center Block D, Floor 2, Apartment 6, Kavacik-Beykoz

Istanbul,

Turkey

Latest Ulukom News

WiseTech buys Turkish player in acquisition spree

May 27, 2018

Share Daniel Munoz Logistics software company WiseTech Global's acquisition spree is continuing, with its purchase of Turkish logistics provider Ulukom for up to $7.5 million. The purchase is the 12th acquisition by the company since January last year, spanning 23 countries. WiseTech has paid around $60 million in total for the 12 companies. Founder and chief executive Richard White told The Australian Financial Review buying companies in foreign markets was the only option to become a truly global business in logistics. "These are good investments that give us an enormous foothold across the world. It's about building the capability in each country," Mr White said. "We built most of the English-speaking world organically and it took us most of 10 years to complete and it was enormously costly and painful, even in an environment where we could communicate directly in English and read all the laws. Advertisement "It becomes almost impossible to do this on an organic basis in foreign-language countries... There isn't an alternative strategy for us that's organic." WiseTech is paying $2.9 million upfront for its latest acquisition of Ulukom, with a further multi-year earn-out potential of up to $4.6 million, related to the integration of the company, product development, customer conversion and revenue growth. Mr White said all of its acquisitions have been structured so that in the terms of the deal a chunk of the payment is dependent on the success of the integration and conversion of customers to its CargoWise One platform. "We have a deep understanding of the companies we buy, we keep the founders on, they're quite small so there's no big risk in a single one of them and each one has a part to play in the growth of WiseTech and is pulling its own weight," he said. "They're all part of our strategy. We're not just buying companies and sticking them together and hoping they'll look like something." Other recent acquisitions WiseTech has made include Softcargo, EasyLog, Forward, CustomsMatters and ABM Data. WiseTech's share price has recently rebounded from under $9.50 to almost $14 on the back of the business increasing its guidance for annual revenue growth of 37-43 per cent, to deliver $210 million-$220 million, subject to currency movements. The increased guidance came a few months after analysts had been disappointed the business had failed to live up to its full-year outlook on the back of its first-half results. On the day of its half-year results the company's shares fell more than 20 per cent. Mr White said WiseTech had held on to all of the founders of the companies it had acquired since January last year. "Most of the time the founders sell and move on. This never happens, but it's happened in every single acquisition we've done," he said. "These are some of the best senior mangers you could ever have to help run and grow a business. "The stability of these acquisitions are also vastly different. Almost none of these businesses were for sale. They sold because they joined WiseTech ... and the youngest business we've acquired has been 15 years old. These are not people who started their companies three years ago and flipped it." Share

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Ulukom

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Ulukom is included in 1 Expert Collection, including Supply Chain & Logistics Tech.

S

Supply Chain & Logistics Tech

2,865 items

Companies offering technology-driven solutions that serve the supply chain & logistics space (e.g. shipping, inventory mgmt, last mile, trucking).

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.