Transactions: Freightos acquires Shipsta, expands offerings

Digital booking company Freightos acquired Shipsta , a freight-tender procurement platform, in August. This transaction expands Freightos’ spot pricing, quoting and booking capabilities by adding tender procurement. [caption id="attachment_57137804" align="alignright" width="300"] (Courtesy/Freightos)[/caption] Shipsta, headquartered in Luxembourg, supports the freight procurement of global companies by streamlining the tender management and procurement processes across air, ocean, road and rail, helping companies solicit tenders from freight forwarders and carriers, according to an Aug. 19 release. “The acquisition of Shipsta is a strategic milestone for Freightos , enabling us to advance our vision of digitizing the freight industry end-to-end,” Freightos Chief Executive Zvi Schreiber said in the release. Shipsta “will add significant value to our offering by introducing tender management and contract procurement — a segment representing an estimated 50% to 70% of the total air and ocean freight market.” The acquisition is being financed through a combination of cash and equity, the release stated. The consideration includes a cash payment of approximately 4.5 million euros ($4.98 million) from existing reserves and the issuance of about 640,000 Freightos shares to a “key Shipsta shareholder.” Fraport divests stake in Delhi Airport Airport operator Fraport signed an agreement this week to sell its 10% stake in Delhi International Airport Ltd. — the joint venture that operates Indira Gandhi International Airport (DEL) in Delhi, India — to the airport’s majority owner, GMR Airports Infrastructure Ltd. (GIL), for $126 million. “After a successful 18-year partnership driving impressive growth in Delhi, it’s time to start a new chapter,” Fraport CEO Stefan Schulte said in a Sept. 9 release. “With GIL, we jointly upgraded and expanded Delhi Airport into one of Asia’s leading air transportation hubs.” The transaction is expected to close in the first quarter of 2025. Fraport will continue to support DEL operations under an existing airport operator agreement. The Fraport Group has held its stake in DEL since 2006. DEL ranks 31st on Air Cargo Next ’s top 50 cargo airports list, with throughput of 920,740 tonnes in 2022. Qatar Airways acquires 25% stake in Airlink Qatar Airways Group acquired a 25% stake in Southern African carrier Airlink , which flies to more than 45 destinations in 15 African countries. [caption id="attachment_57144973" align="alignright" width="300"] Airlink Chief Executive Rodger Foster, seated left, and Qatar Airways Group Chief Executive Badr Mohammed Al-Meer sign an agreement by which Qatar Airways acquired a 25% stake in Airlink. (Courtesy/Qatar Airways)[/caption] “Our investment in Airlink further demonstrates how integral we see Africa being to our business’ future,” Qatar Airways Group Chief Executive Badr Mohammed Al-Meer said in an Aug. 20 release. Qatar Airways flies to 29 destinations in Africa and continues to expand its footprint on the continent, according to the release. Qatar Airways ranks third on Air Cargo Next ’s Freight 50 list of top cargo carriers, flying 14.3 billion cargo tonne kilometers in 2022. “This transaction will unlock growth by providing efficiencies of scale, increasing our capacity and expanding our marketing reach,” Airlink Chief Executive Rodger Foster said in the release. Drone Delivery Canada, Volatus complete merger Drone Delivery Canada (DDC) and Volatus Aerospace last month completed their merger, announced May 21 . The merged company will be called Volatus, an Aug. 20 release stated. The merged company will be led by Glen Lynch as CEO and Steve Magirias as chief operational officer, with Ian McDougall as board chairperson. “Back when Volatus transitioned from a private company to a public company in 2021, we reimagined our mission to be an integrator and consolidator of a fragmented industry — to build a streamlined and agile ecosystem for our customers,” Lynch said in the release. “Volatus is taking the next evolutionary step with Drone Delivery Canada, combining its significant technological expertise together with our commercial experience to provide tested and proven remote operational capabilities and logistics technology to our customers,” he said. WFS Holland proposes acquisition of Menzies Amsterdam Worldwide Flight Services Holland (WFS), a member of Sats Group , plans to expand its presence in Amsterdam Airport Schiphol (AMS) by acquiring Menzies World Cargo Amsterdam , Menzies Aviation ’s general cargo handling operations at AMS, WFS announced Aug. 30. [caption id="attachment_57144974" align="alignright" width="300"] (Courtesy/Worldwide Flight Services)[/caption] The acquisition would increase WFS’ warehouse capacity and cargo handling capabilities at AMS, which ranks 21st on Air Cargo Next ’s top 50 cargo airports list, with throughput of 1.4 million tonnes in 2022. “WFS has served Amsterdam Airport Schiphol since 2000 and is now operating at close to maximum capacity,” John Batten , WFS CEO for Europe, the Middle East, Africa and Asia, said in the release. “We are optimistic that the business pipeline will soon fill the newly acquired capacity and take WFS to the next stage of its growth.” The proposed acquisition is subject to certain conditions, including local works council consultation, the release stated. IAG Cargo appoints Group Concorde as GSA in 8 countries IAG Cargo , the cargo division of International Airlines Group , appointed Group Concorde as its general sales agent in: Australia; Cambodia; Indonesia; Malaysia; Myanmar; New Zealand; Philippines; and Vietnam. Group Concorde will assume GSA responsibilities in the next three months, according to a Sept. 3 release. Editor's note: All amounts have been converted to U.S. dollars.

Transactions: Freightos acquires Shipsta, expands offerings

Fraport divests stake in Delhi Airport; Qatar Airways acquires 25% stake in Airlink; and more

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