NEW YORK--(BUSINESS WIRE)--GetSwift Limited (ASX: GSW) (‘GetSwift’ or the ‘Company’), a leading provider of SaaS logistics technology, announced it has acquired a majority stake in Logo d.o.o. ('Logo'), an Information and Communications technology firm, creating a combined company with over 200 staff.
With the acquisition of Logo, GetSwift can offer clients a suite of complementary services in areas including data centers, communications infrastructure, and Infosec, among others. The combined company’s offerings of both SaaS logistics and technical services will position it uniquely as a one-stop shop, enabling GetSwift to work with larger enterprise clients and accelerate its global expansion.
Concurrent with the transaction, GetSwift CEO Bane Hunter has, at the request of Logo’s shareholders, become Chairman of the Supervisory Board of Logo while GetSwift Chief Operating Officer Robert Bardunias has become Vice Chairman of the Supervisory Board of Logo.
GetSwift and Logo offer complementary services to customers. The two companies currently serve some common clients and partners that include multinational firms operating across diverse industries.
Logo was founded in 1990, and has built a track record of leading technical services to a range of enterprise and government clients. Logo’s specialties include network and communication systems, data centers, telecommunications infrastructure, Infosec and infrastructure safety systems, along with building automation systems.
Under the terms of the transaction, GetSwift's acquisition consideration for a majority stake in the share capital of Logo is EUR 5.5 million in cash. GetSwift will fund the cash consideration from cash from its balance sheet. The transaction is not subject to any financing condition. Dentons acted as legal advisor to GetSwift on this transaction.
About GetSwift Limited
Technology to Optimise Global Delivery Logistics
GetSwift is a worldwide leader in delivery management automation. From enterprise to hyper-local, businesses across dozens of industries around the globe depend on our SaaS platform to bring visibility, accountability, efficiency and savings to their supply chain and “Last Mile" operations. GetSwift is headquartered in New York City and is listed on the Australian Securities Exchange (ASX:GSW). For further background, please visit GetSwift.co.
GetSwift is an emerging growth company and is subject to a variety of risks. The Company is not yet profitable, and there can be no assurance that it will achieve profitability. The Company's business and a variety of investment considerations are discussed in more detail in the Company's filings with the Australia Securities Exchange (ASX). Investors are encouraged to review the more complete information contained in such filings.