WiseTech Under Antitrust Scrutiny
Australian Regulator Raids Logistics Giant WiseTech Over Alleged Competition Law Breaches
Key Points
ACCC chair Gina Cass-Gottlieb disclosed that the regulator accepted a court-enforceable undertaking from WiseTech and BluJay Solutions to divest Expedient, following the Expedient acquisition.
Co-founder Richard White sold 1.87 million WiseTech shares worth more than $200 million in early 2025, including during a blackout period; he denies wrongdoing and says he sought legal advice before trading.
WiseTech’s CargoWise platform is a dominant logistics software, and after acquiring e2open the group now serves about 22,000 logistics firms across 193 countries, with more than 500,000 connected businesses; 46 of the world's 50 largest third-party logistics providers are customers.
The raid is described as the third regulator or police force to scrutinize WiseTech or its billionaire founder Richard White.
Share price reactions were sharp in initial trading, with declines around 11-13% and visits to two-week lows, including drops to about AUD 38.34–39.22 per share across listings.
Australia's competition watchdog raided the Sydney offices of logistics software giant WiseTech Global, sending shares tumbling as much as 13% in early trading. The Australian Competition and Consumer Commission executed a search warrant, seizing documents and electronic data tied to alleged breaches of competition law, according to Investing.com.
WiseTech said it would fully cooperate with the investigation. The raid is the third time a regulator or police force has scrutinized either the company or its billionaire founder, Richard White, in recent months, according to The Market Online.
ACCC Raid Triggers Sharp Share Price Selloff
WiseTech shares fell between 10% and 13% after news of the search warrant broke, hitting two-week lows. Prices dropped to as low as AUD 38.34 per share across different listings, according to Investing.com. The selloff wiped a significant chunk off the company's market value before shares began to stabilize.
The ACCC's search focused on WiseTech's CargoWise platform and related logistics software operations. CargoWise is used by 46 of the world's 50 largest third-party logistics providers. After acquiring US rival e2open, WiseTech now serves about 22,000 logistics firms across 193 countries, with more than 500,000 connected businesses, according to Startup Daily.
Expedient Acquisition Sits at the Heart of the Probe
The raid follows WiseTech's 2025 acquisition of Expedient, a logistics software firm. ACCC chair Gina Cass-Gottlieb disclosed that the regulator had already accepted a court-enforceable undertaking from WiseTech and BluJay Solutions, requiring them to divest Expedient as a condition of the deal, according to Startup Daily.
The broader context includes WiseTech's purchase of US rival e2open, which previously drew regulatory scrutiny over competition concerns. The ACCC's current inquiry is focused on the Competition and Consumer Act. The regulator has not publicly detailed the specific allegations against the company, according to Streamline Feed.
Founder Richard White Faces Separate Share-Trading Scrutiny
WiseTech co-founder Richard White is under separate investigation over share trades made during a blackout period in early 2025. White sold 1.87 million WiseTech shares worth more than $200 million during that time. He denies wrongdoing and says he sought legal advice before trading, according to The Market Online.
WiseTech has been careful to separate White's personal trading probe from the ACCC's corporate raid. The company stressed that the search warrant targets company operations, not the founder's individual conduct. Even so, investors are watching both matters closely as governance concerns grow, according to Investing.com.
WiseTech Pledges Cooperation as Regulatory Pressure Mounts
WiseTech said in a statement it would fully cooperate with ACCC investigators. The company has not publicly challenged the warrant or disputed the regulator's right to investigate. No detailed allegations have been disclosed, leaving investors with limited information, according to Startup Daily.
The ACCC raid marks another regulatory milestone for a company already under pressure. WiseTech faces scrutiny from at least three separate regulators or law enforcement bodies. Its stock has been volatile amid these probes and a string of major acquisitions that have reshaped the global logistics software market, according to Streamline Feed.
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