WiseTech Global Ltd (ASX: WTC) was founded in 1994 by Richard White to provide software to the logistics sector. Since then it has grown to become a global provider of logistics software, claiming to service 19 of the top 20 logistics companies globally. WiseTech makes money by charging its customers on a ‘per use’ basis rather than as a subscription model. Meaning, WiseTech directly benefits as its customers grow their businesses.
The local share market managed a 0.9% gain, taking it to a five-month high on the back of another confirmation of falling price levels and inflation.
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The WiseTech Global Ltd (ASX:WTC) share price is in focus as the ASX tech share revealed a US$414 million deal.
The WiseTech Global Ltd (ASX:WTC) share price is up after the ASX tech share announced another acquisition called Envase.
A strong lead-in from Wall Street gave solid impetus to the Australian market on Tuesday, and the result was a lift of 114.8 points, or 1.7 per cent, in the benchmark S&P/ASX 200 (INDEXASX: XJO) Index, to 6779.2; while the broader S&P/ASX All Ordinaries (ASX: XAO) index added 121.9 points, or 1.8 per cent, to 6976.2. The ASX 200 is off to a positive start on Wednesday morning.
The WiseTech Global Ltd (ASX:WTC) share price is up more than 10% after the logistics software business announced a lot of growth in FY22.
The S&P/ASX 200 (INDEXASX:XJO) was mostly flat on Tuesday. ASX tech shares like WiseTech (ASX:WTC) led the ASX 200 higher on Monday.
The Data#3 Limited (ASX: DTL) share price is down 15% in 2022, versus the All Ordinaries (ASX: XAO) which is down 8%. Fellow ASX tech shares like the WiseTech Global Ltd (ASX: WTC) share price and the Netwealth Ltd (ASX: NWL) share price are around 30% lower each.
