ACCC executes search warrant at logistics software giant WiseTech in competition probe

Insight summary

• •Australia’s ACCC executed a search warrant at WiseTech Global related to a competition investigation involving logistics software.
• •Investigators sought documents and electronic data about global logistics services without specifying products or units involved.
• •The ACCC is probing potential breaches of the Competition and Consumer Act 2010.
• •WiseTech, with over 20,000 logistics clients in 193 countries, had earlier faced ACCC review leading to the sale of Expedient software post e2open acquisition.
• •The market watchdog demands divestiture to maintain competition and prevent price increases or reduced service quality.
• •WiseTech shares dropped 8.7% following announcement, marking the steepest single-day loss since late June.
• •The investigation status, scope, and outcomes remain undisclosed by both WiseTech and ACCC.