Freightos (CRGO) announced the acquisition of Shipsta, a freight-tender procurement platform. The company said the acquisition accelerates its growth, supports financial goals of achieving positive adjusted EBITDA by the end of 2026 with available funds.
Freightos said the acquisition will be financed through a combination of cash and equity. The consideration includes a cash payment of approximately 4.5 million euros from existing reserves and the issuance of approximately 640 thousand Freightos shares to a key Shipsta shareholder.
Freightos stated that Shipsta is expected to contribute approximately $800 thousand to revenue during the last four months of 2024, with a moderate negative impact on adjusted EBITDA. Revenue contribution in 2025 is expected to be between $4-5 million.
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