CANBERA (dpa-AFX) - WiseTech Global Limited (WTC.AX, WTCHF), a developer of logistics execution software and supply chain technology, said on Wednesday that it has inked a deal to acquire FRDM.ai, a developer of AI-powered supply chain risk and compliance intelligence technology, for an upfront $10 million in cash and shares.
The maximum payable under the all-cash earn-outs is $14.31 million. The transaction is expected to be completed on August 3.
Founded in California in 2018, FRDM.ai maps supplier networks beyond direct suppliers and scores risk in real time. The American firm enables a streamlined level of supplier data to map, monitor, and mitigate trade risks, including modern slavery, geopolitical, human rights, and others.
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