Freightos Expands Capabilities with Acquisition of Shipsta

Freightos, a global leader in freight booking and digital solutions, has announced the acquisition of Shipsta, a prominent freight-tender procurement platform based in Luxembourg. This strategic move aims to broaden Freightos’ service offerings and strengthen its position in the global freight industry.

The acquisition, financed through a combination of €4.5 million in cash and approximately 640,000 Freightos shares, is set to enhance Freightos’ existing spot pricing, quoting, and booking services by integrating Shipsta’s advanced tender procurement capabilities. This segment represents 50-70% of the air and ocean freight market, making the addition a significant expansion of Freightos’ digital freight services.

Key Highlights:

• Enhanced Services: The integration of Shipsta’s platform into Freightos’ ecosystem will provide comprehensive solutions for freight procurement, addressing a crucial segment of the market and complementing Freightos’ existing services.
• Revenue Impact: Shipsta is expected to contribute approximately $800,000 to Freightos’ revenue in the last four months of 2024, with a projected $4-5 million in 2025. The acquisition is anticipated to have a moderate negative impact on Adjusted EBITDA initially but is expected to support Freightos’ goal of achieving positive Adjusted EBITDA by 2026.
• Leadership and Innovation: Shipsta’s team, led by Christian Wilhelm and Stefan Maratzki, will continue to drive product development and innovation under the Freightos umbrella. Wilhelm expressed enthusiasm about the acquisition, noting that it marks a significant new chapter for Shipsta and aligns with their mission to digitize the freight industry.

Zvi Schreiber, CEO of Freightos, emphasized the strategic importance of the acquisition: “Shipsta’s platform, customer base, and experienced team will add significant value to our offering by introducing tender management and contract procurement. This move not only strengthens our market position but also aligns with our vision of end-to-end digitization of the freight industry.”

Freightos, known for its global freight booking and payment solutions, operates platforms such as Freightos Marketplace, WebCargo, and Clearit. The acquisition of Shipsta is set to accelerate Freightos’ growth, enhance its service offerings, and drive innovation in freight management.

Christian Wilhelm, CEO of Shipsta, highlighted the potential for growth and enhanced service: “Joining forces with Freightos will allow us to continue delivering exceptional service and efficiency to our customers while driving new efficiencies and innovation in the freight sector.”

The combined Freightos and Shipsta platform will offer a unified digital solution for carriers, freight forwarders, and importers/exporters, significantly improving the procurement and management of freight services globally.