GetSwift Acquires Majority Stake in European Information and Communications Technology Firm Logo d.o.o.
02 Fevereiro 2020 - 7:11PM
Business Wire
- Combined Company Has Over 200 Staff
- GetSwift CEO Bane Hunter becomes Chairman of Supervisory Board
of Logo
- Positions Company to Disrupt Efforts of Other SaaS Last Mile
Competitors
- Creates Class Leading Commercial, Project, and Product
Execution Capability
- Acquires ISO/IEC 27001, ISO 9001, ISO 14001 and OHSAS 18001
Certifications
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200202005030/en/
Media enquiries: John Jannarone: jjannarone@getswift.co
Investor enquiries: investors@getswift.co
Company Secretary: julian.rockett@boardroomlimited.com.au +61 2
8016 2841
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