Freightos (CRGO) has announced its acquisition of Shipsta, a platform specializing in freight-tender procurement. This move is intended to accelerate Freightos' growth trajectory and assist in achieving its financial objective of positive adjusted EBITDA by the end of 2026, utilizing available funds.
The acquisition will be financed through a mixture of cash and equity. Specifically, Freightos plans to pay roughly 4.5 million euros in cash drawn from existing reserves, alongside issuing approximately 640,000 Freightos shares to a principal shareholder of Shipsta.
Freightos anticipates that Shipsta will contribute around $800,000 to its revenue over the final four months of 2024, albeit with a slight negative effect on adjusted EBITDA. For 2025, the expected revenue contribution from Shipsta is projected to be between $4 million and $5 million.
