Latest news with #e2open
Yahoo
27-05-2025
- Business
- Yahoo
E2open to be acquired by WiseTech Global for $3.30 per share in cash
E2open (ETWO) announced that it has entered into a definitive agreement to be acquired by WiseTech Global Limited (WTCHF), which marks the conclusion of e2open's previously announced strategic review process. Under the terms of the transaction, e2open stockholders will receive $3.30 per share in cash equating to an enterprise value of $2.1B. The per-share purchase price represents a premium of approximately 28% over the company's closing stock price on May 23, the last trading day prior to today's announcement, and a premium of approximately 68% over the company's closing stock price on April 30, the day prior to media reports regarding WiseTech's evaluation of a potential acquisition of e2open reported on May 1. E2open and WiseTech will continue to operate as independent companies until the transaction closes, which is expected in the second half of calendar year 2025. The transaction is subject to customary closing conditions including applicable regulatory approvals. In addition to unanimous board approval, shareholders holding in the aggregate a majority of the voting power of the issued and outstanding shares of common stock of e2open have approved the transaction by written consent. No other further action by e2open's shareholders is required to approve the transaction. Upon completion of the transaction, e2open's common stock will no longer be listed on the New York Stock Exchange. 'After a comprehensive strategic review and evaluation of a full range of options conducted by e2open, the Company's Board, and Rothschild & Co, we have decided to enter this agreement with WiseTech Global, which we believe maximizes value for our shareholders and positions the Company for long-term success,' said Andrew Appel, Chief Executive Officer of e2open. 'WiseTech's global footprint and commitment to innovation are highly complementary to e2open's capabilities. Together, we will be able to offer a leading end-to-end platform for the world's most complex supply chains.' Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on ETWO: Disclaimer & DisclosureReport an Issue E2open's Mixed Earnings Call: Growth Amid Challenges E2open Parent Holdings Releases Investor Presentation Update E2open price target lowered to $2.50 from $3 at UBS E2open Reports Mixed Fiscal 2025 Results Amidst Strategic Growth Plans E2open reports Q4 adjusted EPS 6c, consensus 5c Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-05-2025
- Business
- Yahoo
E2open sold to WiseTech, Australian logistics software company
Supply chain software provider e2open is being bought by an Australian technology company, the culmination of a strategic review of its operations that began with a push from an activist investor. E2open said late Sunday it is being acquired by WiseTech Global Ltd., which e2open described as a 'leading provider of logistics execution software solutions.'The price of the transaction was $3.30 per share. That is a roughly 28.4% premium over the closing price of e2open Friday, when it closed at $2.57 per share. The value of the deal was put at $2.1 billion. The transaction will mean the end of e2open as a publicly-traded company, a history that dates back only to October 2020 when it went public via a special purpose acquisition company (SPAC). In a prepared statement, e2Open CEO Andrew Appel said the deal 'maximizes value for our shareholders and positions the Company for long-term success.' 'WiseTech's global footprint and commitment to innovation are highly complementary to e2open's capabilities,' he said. 'Together, we will be able to offer a leading end-to-end platform for the world's most complex supply chains.'The ride of e2open as a publicly-trade company was not a positive one for early investors. According to data on Yahoo! Finance, e2open stock traded as high as roughly $14.50 per share in June 2021. It hit a low of $1.75 on April 4. E2open's struggles ultimately cost CEO Michael Farlekas his job, as he was pushed out in October 2023. It was after Appel was hired as CEO after serving as interim CEO that the company's strategic review was launched. It came after activist investor Elliott Investment Management had taken a stake of more than 13% in the company. Since the strategic review was launched, company executives have repeatedly declined to say anything about its progress on the company's quarterly earnings calls, as recently as the fourth quarter call that took place April 29. Financial data at e2open (NYSE: ETWO) has been disastrous in recent years. It recorded a $652 million operating loss in the fiscal year ended February 28, which was an improvement over the roughly $1.5 billion loss the prior fiscal year. Subscription revenue, the lifeblood of a software provider, dropped to $528 million from $537 million year-over-year. On the latest earnings call, Appel touted several areas of improvement, including sequential increases in subscription revenue and that in the fourth quarter, e2Open had the highest renewal percentage of any quarter in the fiscal year. But to show its challenges, e2Open's forecast for the first quarter–which will end this week–was for subscription revenue to range from a low of a 1.8% decline to a 0.5% increase year-over-year. Media reports said the E2open is the largest acquisition in the history of WiseTech, which is headed by Australian billionaire Richard White. Its primary product for the logistics market is called articles by John Kingston As shippers adjust to tariffs, the message at Momentum is: Don't forget the TMS Georgia tort reform aims to change practices in judicial 'hell hole' Double whammy for Wabash: 2 key agencies cut debt rating on trailer builder The post E2open sold to WiseTech, Australian logistics software company appeared first on FreightWaves. Sign in to access your portfolio
News.com.au
26-05-2025
- Business
- News.com.au
Lunch Wrap: ASX seesaws as Wisetech, uranium stocks reel in gains
Trump delays EU tariffs, markets breathe WiseTech pops 5pc on $3.25b acquisition Uranium stocks surge again on US nuclear push The ASX couldn't quite decide which way to go on Monday, seesawing through the morning and eventually dipping a modest 0.05% by lunchtime AEST. Investors watched as Donald Trump swing the tariff hammer, then quietly put it down. On Friday, Trump threatened to slap 50% duties on all EU imports by June 1st, but then extended the deadline to July 9 in the last few hours after what he called a 'friendly call' with EU Commission boss, Ursula von der Leyen. That was enough to lift Wall Street futures higher this morning, with the Nasdaq and S&P 500 contracts both bouncing around 1%. Gold took a breather on this latest news, with yellow metal softening and hovering near $US3,346 an ounce as this story goes to press. But Trump's tariff tantrums aren't gone, they're just on pause. On Friday, he also rattled markets by threatening Apple with a 25% tax on iPhones not made in the US, dragging down tech stocks and giving Wall Street a sour send-off into the Memorial Day long weekend. Back in Australia, it was a game of wait-and-see, with most large caps moving in tight ranges. Except for WiseTech Global (ASX:WTC). The logistics software giant surged over 6% after announcing its biggest-ever deal, shelling out $3.25 billion to acquire Texas-based e2open. WTC said the deal gets WiseTech closer to being the 'operating system' for global trade. While tech flexed on the back of WTC, uranium stocks lit up again like they did on Friday. Trump has just signed a string of executive orders on Friday aimed at turbocharging America's nuclear sector, and Aussie names felt the glow. Boss Energy (ASX:BOE) jumped another 10.5% this morning, while Deep Yellow (ASX:DYL) and Paladin Energy (ASX:PDN) surged by more than 13%. Meanwhile, Origin Energy (ASX:ORG) dragged down the utilities sector, falling 4% after telling investors it now expects earnings from UK-based Octopus Energy to swing into lossmaking territory, anywhere up to $100 million. In other large cap moves, agri firm Elders (ASX:ELD) took a 6% knock despite reporting its half-year profit had more than doubled to nearly $50 million. Livestock prices, better sentiment, and fatter margins helped, but competition and dry conditions on the retail side clearly spooked some investors. And, Genesis Minerals (ASX:GMD) climbed 2.5% after locking in a $250 million deal to buy WA's Laverton Gold Project from Focus Minerals (ASX:FML), which promptly rocketed 107% (see more below). Genesis says the deal brings serious synergies, with the deposits set to feed its nearby Laverton mill. Genesis will fund the buy with a mix of cash and expanded finance. ASX SMALL CAP WINNERS Here are the best performing ASX small cap stocks for May 26 : Security Description Last % Volume MktCap FML Focus Minerals Ltd 0.460 100% 5,937,001 $65,908,488 LNR Lanthanein Resources 0.002 100% 500,000 $2,443,636 ERA Energy Resources 0.003 50% 3,497,471 $810,792,482 FTC Fintech Chain Ltd 0.003 50% 452,029 $1,301,539 OB1 Orbminco Limited 0.002 50% 31,288,136 $2,397,568 VML Vital Metals Limited 0.003 50% 3,834,200 $11,790,134 GMN Gold Mountain Ltd 0.002 33% 251,374 $7,700,832 MOM Moab Minerals Ltd 0.002 33% 250,000 $2,600,499 TKL Traka Resources 0.002 33% 501,227 $3,188,685 PLN Pioneer Lithium 0.120 32% 491,140 $3,873,113 REZ Resourc & En Grp Ltd 0.017 31% 500,000 $8,731,309 RMX Red Mount Min Ltd 0.009 29% 4,779,756 $3,254,705 W2V Way2Vatltd 0.009 29% 50,280,933 $9,890,007 AOK Australian Oil. 0.003 25% 8,591,665 $2,003,566 AVE Avecho Biotech Ltd 0.005 25% 2,651,126 $12,693,855 BYH Bryah Resources Ltd 0.005 25% 4,443,625 $3,479,814 GTR Gti Energy Ltd 0.005 25% 15,557,772 $11,995,799 HLX Helix Resources 0.003 25% 700,000 $6,728,387 PKO Peako Limited 0.003 25% 15,666 $2,975,484 VRL Verity Resources 0.030 23% 9,663,649 $6,634,243 NNL Nordicresourcesltd 0.072 22% 647,657 $10,662,314 CDEDC Codeifai Limited 0.006 20% 250,000 $1,585,157 CR9 Corellares 0.003 20% 334,672 $2,514,016 NES Nelson Resources. 0.003 20% 2,500,000 $5,429,819 As mentioned, Shandong Gold backed Focus Minerals (ASX:FML) has locked in a $250 million deal to sell its Laverton Gold Project to Genesis Minerals (ASX:GMD), with the sale expected to wrap up in early June. It's a straight cash deal, no conditions attached, and Focus reckons it's a smart move to cash in while gold prices are high. The payout will bulk up Focus' balance sheet as it shifts focus to developing the Bonnie Vale underground mine and ramping up mining at Coolgardie. Lanthanein Resources (ASX:LNR) has pulled the pin on its farm-in deal with Gondwana Resources for the Lady Grey Lithium Project. The agreement would have let it earn up to 70% of the project, but it's now walking away to focus on other opportunities that better fit its game plan. Red Mountain Mining (ASX:RMX) has confirmed multiple stibnite veins, key to antimony, at its Armidale Project in NSW, with an inferred strike of over 1km at Oaky Creek North. Coarse mineralisation was also found at Oaky Creek South, suggesting a broader system split by the Namoi Fault. With antimony prices surging past US$60,000 a tonne and global supply tightening, RMX sees strong tailwinds for its timing and ground position. Fintech firm Way2VAT (ASX:W2V) has signed a major global contract with real estate giant JLL, covering around 25 of JLL's entities worldwide. The deal includes using Way2VAT's tech to automate VAT claims on travel, entertainment, and accounts payable invoices, plus its new APAI compliance platform. JLL, which operates in over 80 countries and pulls in more than US$20 billion a year, is expected to become a significant revenue source for Way2VAT. ASX SMALL CAP LOSERS Here are the worst performing ASX small cap stocks for May 26 : Code Name Price % Change Volume Market Cap AYM Australia United Min 0.002 -33% 67 $5,527,732 EDE Eden Inv Ltd 0.001 -33% 11,000 $6,164,822 JAY Jayride Group 0.001 -33% 5,807 $2,141,834 MRD Mount Ridley Mines 0.002 -33% 339,129 $2,335,467 OLI Oliver'S Real Food 0.004 -33% 141 $3,244,392 SFG Seafarms Group Ltd 0.001 -33% 252 $7,254,899 SKN Skin Elements Ltd 0.002 -33% 16,356 $3,225,642 TMX Terrain Minerals 0.002 -33% 667,500 $6,745,670 OSL Oncosil Medical 0.003 -29% 47,708,121 $16,123,038 CZN Corazon Ltd 0.002 -25% 120,000 $2,369,145 QXR Qx Resources Limited 0.003 -25% 470,480 $5,241,315 SPX Spenda Limited 0.007 -22% 1,503,944 $41,536,939 AMS Atomos 0.004 -20% 21,926 $6,075,092 ASR Asra Minerals Ltd 0.002 -20% 620,000 $6,916,340 BIT Biotron Limited 0.002 -20% 45,000 $3,318,115 ECT Env Clean Tech Ltd. 0.002 -20% 200,002 $9,117,026 KPO Kalina Power Limited 0.004 -20% 272 $14,664,849 VRC Volt Resources Ltd 0.004 -20% 194,839 $23,423,890 AHN Athena Resources 0.005 -17% 659,278 $13,595,742 JAV Javelin Minerals Ltd 0.003 -17% 2,432,945 $18,138,447 MOH Moho Resources 0.005 -17% 364,150 $4,472,484 SRN Surefire Rescs NL 0.003 -17% 6,743,334 $7,459,336 GNM Great Northern 0.016 -16% 1,366 $2,937,952 BRX Belararox 0.097 -16% 438,757 $18,144,559 IN CASE YOU MISSED IT Aldoro Resources (ASX:ARN) said it was kicking off a strategic review after being approached by parties interested in its non-core exploration projects. It's now weighing up options, including potential sales or other capital moves that could benefit shareholders. The review won't include its flagship Kameelburg niobium-REE project in Namibia which remains the main focus. The company believes that asset has the potential to be world class, possibly hosting a global top 3 niobium-REE deposit once a JORC resource is completed. Projects under review include Niobe, Wyemandoo, Narndee and a majority stake in the EPL 7895 gold project. No decision has been made yet, and it's not guaranteed that any deal will happen. Aldoro says it'll keep the market posted if anything material comes from the review. Horseshoe Metals (ASX:HOR) is getting close to the start line at its Horseshoe Lights copper-gold project, with camp infrastructure mostly back up and running. It has sorted power, water and Starlink comms. The site is being prepped to kick off Direct Shipping Ore (DSO) copper operations and sales from existing high-grade stockpiles, with a mining licence expected soon. It's also laying the groundwork for partner Melody Gold to process surface gold material. Exploration and drilling are also on the cards over the next few months. Zenith Minerals (ASX:ZNC) is shifting gears at its Split Rocks project, pivoting from lithium to gold after spotting regional structures that haven't been properly tested. Stockhead's Tylah Tully breaks it all down in a new video now ready to watch. Meanwhile, Tylah also dives into New Age Exploration (ASX:NAE) 's Wagyu project, where fresh gold hits are drawing comparisons to De Grey's monster Hemi find. At Stockhead, we tell it like it is. While Aldoro Resources, Horseshoe Metals, Zenith Minerals and New Age Exploration are Stockhead advertisers, they did not sponsor this article.
AU Financial Review
26-05-2025
- Business
- AU Financial Review
Richard White's biggest bet could make or break WiseTech
It's hard to overstate the size of the gamble that WiseTech executive chairman Richard White has taken by agreeing to buy US 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.
West Australian
26-05-2025
- Business
- West Australian
WiseTech's biggest deal with $3.25b expansion in US
WiseTech Global will borrow $3 billion to fund its expansion in the US as the logistics software firm aims to put a series of sex scandals surrounding founder and executive chair Richard White behind it and focus on growth. The $33.5b listed company first flagged its intention to acquire e2open earlier this month and on Monday revealed it had secured a $US2.1b ($3.25b) deal to pick up the Texas-based firm. Its biggest-ever purchase, WiseTech said bringing on board e2open would result in a strategically significant change in global scale and reach, adding adjacent markets, customer bases and product capabilities which would allow it to create a global trade and logistics marketplace. The deal, priced at $US3.30 a share, will be fully funding through a new syndicated debt facility from a lender group comprising 'a well-diversified mix of leading domestic and international banks'. With 4000 employees, e2open operates in more than 20 countries and provides a connected supply chain software platform, tracking more than 18 billion transactions a year. WiseTech shares spiked 5.6 per cent on the new to $105.64. The purchase continues a decade-long run of acquisitions by WiseTech, with 55 deals done over that time worth $US1.2b. Mr White described it as a pivotal moment in WiseTech's development, adding was a 'huge step' toward the company's goal of being the operating system of choice for global trade and logistics. He said it would expand WiseTech's customer base with a network of 500,000 connected enterprises in adjacent markets including connectivity to major ocean carriers, about 5600 customers and 250-plus blue-chip customers. 'This will enable WiseTech to create a multi-sided marketplace that connects all trade and logistics stakeholders to efficiently offer and acquire services, removing complex disconnected processes and driving visibility, predictability and cost savings through the value chain,' he said. 'E2open also expands WiseTech's product capabilities with an experienced team of people with industry expertise and innovative product development skills that will further accelerate our organic growth capability. 'In bringing the two companies together, we see tremendous opportunity for synergies, efficiencies, economies of scale and enhanced customer benefits, which unlocks the potential in e2open's suite of products. 'This is a great deal for WiseTech's business and e2open's shareholders, for all our customers, the industry and ultimately the end consumer.' The size and scale of the deal will also help WiseTech shift the spotlight off Mr White, who stepped down last year as the company's chief executive amid a board investigation into his relationship with employees. However, he controversially regained control in February as executive chairman, despite a board-commissioned investigation finding he failed to fully disclose personal relationships with employees. His return was preceded by the departure of four independent directors who had voiced concern about his ongoing influence. WiseTech and Mr White are still facing shareholder unrest over his return to the company, though the billionaire told the Macquarie conference n Sydney three weeks ago he was committed to 'top-notch' corporate governance. E2open generated revenue of $US608 million in the year to the end of February Chief executive Andrew Appel said both businesses had complementary products across transport, logistics, supply and demand ecosystems and were poised to make better use of technology, data, automation and artificial intelligence. 'This strategic combination empowers our people, and our customers who make, move, and sell goods and services to unlock new levels of efficiency and sustainability,' Mr Appel said. 'As the connected supply chain platform, we are excited to join forces with WiseTech to create a truly global, intelligent logistics ecosystem as we jointly lead the digital transformation of our industry.' WiseTech said it expects the deal to be earnings-per-share accretive in year one, before accounting for synergies.
