WiseTech Global, an Australian logistics execution software developer, is set to acquire Aktiv Data, a provider of electronic customs and freight forwarding solutions based in Finland. This move comes as part of WiseTech's strategy to build a singular global customs system that simplifies cross-border compliance and customs clearance processes.
Founded in 2006, Aktiv Data is widely known for its proficient cloud-based freight forwarding and customs system, nTrax. As well as freight forwarding, the firm offers products related to bonded warehouse and waybill procedures. nTrax acts in support of numerous local and transit customs procedures through a direct message exchange mechanism with the Finnish Customs office. Clients of Aktiv Data include both international and Finnish forwarders and shippers, with Steveco being a notable customer.
According to Vlad Bilanovsky, WiseTech Global's Chief Execution Officer, Aktiv Data's acquisition is instrumental for the firm's strategy. He remarks that "with many years of customs and compliance product development in Finland, Aktiv Data provides a proven and sophisticated electronic customs solution that we will offer to CargoWise customers, making it easier for them to comply with Finland's cross-border requirements."
The CEO further explained that WiseTech's goal is to establish a unified global customs system that enhances the efficiency, compliance, and security of customs processing for international freight forwarders. He noted that "with the Aktiv Data acquisition, our global customs system will cover approximately 76% of global manufactured trade flows via a combination of our native customs platform and acquired businesses, taking us closer to our 90% target."
The day-to-day operations of Aktiv Data will continue under the existing leadership of CEO Kaj Svarvar and will be integrated into the WiseTech Global group. Aktiv Data will persist in delivering their customs solutions straight to their customers, whilst gradually offering other CargoWise solutions.
Kaj Svarvar, CEO of Aktiv Data, expressed eagerness about the acquisition, stating: "We are excited to join WiseTech Global and become a part of their global customs footprint. Our nTrax customers will benefit from being able to access CargoWise's customs and compliance capabilities in other countries to ensure goods move smoothly across borders to avoid cargo delays, inspection fees and fines, as well as the opportunity to expand their business using the CargoWise platform."
As Finland sustains the second highest container port throughput in Northern Europe, the acquisition of Aktiv Data by WiseTech Global promises to streamline customs operations for global freight forwarders and further consolidate WiseTech's global customs and compliance footprint.