Australia's WiseTech rises on exploring deal to buy US firm

E2open Parent Holdings

02/05/2025 02:24

** WiseTech Global WTC.AX rises as much as 2.9% to A$97.110, highest since February 26

** Stock gains ~9% so far this week

** Tech firm participating in strategic review of U.S.-based cloud logistics co E2open ETWO.N, following media speculation around a potential buyout

** Citi says, "We do see strategic benefits in WiseTech acquiring the Global Trade Management and Logistics businesses from E2Open"

** Adds potential deal will help WTC develop new products

** Stock last up 1.2%, trims YTD losses to 22%

 (Reporting by Rajasik Mukherjee in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))