WiseTech Global acquires MatchBox Exchange
WiseTech Global has acquired MatchBox Exchange, an Australian-based online platform that optimizes the reuse and exchange of empty shipping containers across multiple countries by connecting supply and demand among transport companies and shipping lines, thereby enhancing landside logistics efficiency, reducing costs, and improving container utilization through integrated digital solutions.
Adds empty container optimization platform to its landside logistics solution
WiseTech Global (ASX:WTC), developer of leading logistics execution software CargoWise, has acquired MatchBox Exchange, a provider of an online open market platform for the reuse and exchange of shipping containers between operators in the landside logistics space. MatchBox Exchange is headquartered in Australia and was acquired from private shareholders.
MatchBox Exchange operates in Australia, India, Indonesia, Israel, New Zealand, Malaysia, Philippines, Singapore, Taiwan, Thailand, and Vietnam. Its customers include transport companies, freight forwarders, importers, exporters, and their clients.
The MatchBox Exchange platform matches those who have a supply of empty containers with those who need them. The company collaborates with global shipping lines such as Maersk, CMA-CGM, MSC, Hapag-Lloyd, ONE, HMM, and Yang Ming through direct integrations. This enables customers to conveniently reuse containers, or request or offer empty containers across businesses for import or export needs. The platform helps landside logistics become more efficient and productive by enabling faster turnaround times and reducing the cost and inefficiencies of transporting, hiring, de-hiring, and storing empty containers.
Richard White, Founder and CEO of WiseTech Global, stated: “We welcome the MatchBox Exchange team to WiseTech Global. There are a huge number of containers moving around the globe at any one time with 862 million TEU (Twenty Foot Equivalent Units) in 2022. MatchBox Exchange brings new digital capability to optimize the reuse of shipping containers to reduce unnecessary trucking trips, increase container utilization, and improve productivity. This is a great example of true optimization by offering more than mere visibility, creating actionable data for end-to-end process optimization across the supply chain.
“This transaction demonstrates WiseTech’s continued investment in our landside logistics development priority, enhancing our CargoWise ecosystem in the container optimization space, while helping to reduce traffic congestion in ports from unnecessary transport of empty containers. This brings us another step closer to delivering on our vision to be the operating system for global logistics.”
MatchBox Exchange’s CEO, Carl Marchese, said: “Joining WiseTech Global will provide the scale and resources to grow the use of the MatchBox Exchange platform in new landside logistics markets, optimizing the reuse and exchange of empty shipping containers, driving better utilization of trucks, and improving collaboration and productivity through digital processes.”
[1] Statista Report: Container throughput at ports worldwide