WiseTech Global (ASX:WTC), developer of leading logistics execution software CargoWise, today announces it has acquired MatchBox Exchange, provider of a breakthrough online open market platform for the reuse and exchange of shipping containers between operators in the landside logistics space. Headquartered in Australia, MatchBox Exchange was acquired from private shareholders.
MatchBox Exchange operates in Australia, India, Indonesia, Israel, New Zealand, Malaysia, Philippines Singapore, Taiwan, Thailand and Vietnam. Its customers are comprised of transport companies and their customers, freight forwarders and importers/exporters.
The MatchBox Exchange platform matches those who have a supply of empty containers with those who need them. MatchBox Exchange collaborates with global shipping lines, such as Maersk, CMA-CGM, MSC, Hapag-Lloyd, ONE, HMM and Yang Ming through direct integrations, to enable customers to conveniently reuse containers, or request or offer empty containers across businesses for their import or export needs. This helps landside logistics to be more efficient and productive by enabling faster turn-around times and reducing the cost and inefficiencies of transporting, hiring, de-hiring and storing empty containers.
Richard White, Founder and CEO of WiseTech Global, said: “We welcome the MatchBox Exchange team to WiseTech Global. There are a huge number of containers moving around the globe at any one time with 862 million TEU (Twenty Foot Effective Units) in 2022[1]. MatchBox Exchange brings new digital capability to optimize the reuse of shipping containers to reduce unnecessary trucking trips, increase container utilization and improve productivity. This is a great example of true optimization by offering more than mere visibility, creating actionable data for end-to-end process optimization across the supply chain.
“This transaction demonstrates WiseTech’s continued investment in our landside logistics development priority, enhancing our CargoWise ecosystem in the container optimization space, while helping to reduce traffic congestion in ports from unnecessary transport of empty containers. This brings us another step closer to delivering on our vision to be the operating system for global logistics,” he said.
MatchBox Exchange’s CEO, Carl Marchese, said: “Joining WiseTech Global will provide the scale and resources to grow the use of the MatchBox Exchange platform in new landside logistics markets, optimizing the reuse and exchange of empty shipping containers, driving better utilization of trucks and improving collaboration and productivity through digital processes.”