Freightos, a Barcelona-based digital freight marketplace, announced on 19 August 2024 its acquisition of Shipsta, a Luxembourg-headquartered platform specialising in freight tender procurement. The acquisition is poised to enhance Freightos’ digital freight-booking capabilities by integrating Shipsta’s tender management platform with its existing spot pricing, quoting and booking services.
According to the , the acquisition aligns with Freightos’ strategy to broaden its comprehensive freight digitisation vision. The deal will be financed through a combination of cash and equity. The consideration involves a cash payment of nearly €4.5m and the issuance of around 640,000 Freightos shares to a key Shipsta shareholder, subject to adjustments for working capital and customary holdbacks. The acquisition is expected to have a moderate negative impact on Freightos’ adjusted Ebitda in the short term, with Shipsta projected to contribute approximately $800,000 to Freightos’ revenue during the last four months of 2024. For 2025, revenue from Shipsta is forecasted to be between $4-5m.
Shipsta, which is known for its freight procurement technology, supports global companies by streamlining the tender management process across various modes of transport, including air, ocean, road and rail. The platform is used by numerous multinational organisations in industries such as retail, industrial, pharmaceutical and automotive. Clients include Puma, Thyssenkrupp and Rockwool. The integration of Shipsta’s technology into Freightos is anticipated to strengthen Freightos’ market position as a leading technology provider in the global freight sector, stated the press statement.
Freightos CEO Zvi Schreiber highlighted the strategic importance of the acquisition, noting that Shipsta’s platform and customer base will add significant value to Freightos’ offerings. Schreiber emphasised that tender management and contract procurement represent an estimated 50%-70% of the total air and ocean freight market. He expressed enthusiasm about the acquisition, citing the potential for enhanced service delivery and the introduction of comprehensive solutions that address the needs of importers, exporters, forwarders and carriers.
Shipsta’s team, including founders Christian Wilhelm and Stefan Maratzki, will continue to lead Shipsta’s product development, customer success and go-to-market strategies within Freightos. The acquisition will accelerate Shipsta’s product roadmap, enhancing tender management and expanding operational integrations and market intelligence capabilities. Wilhelm stated, “Together, we expect to accelerate market penetration, drive innovation, and set new industry standards in freight.”