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Why the WiseTech Global Ltd share price is springing back today

WiseTech Global Ltd’s (ASX: WTC) share price is recovering from yesterday’s spectacular 10.7% tumble. At the time of writing, WiseTech is up 7.3% to $14.91, still far off last week’s $16.27 high.  

Investors are rewarding WiseTech’s aggressive expansion strategy once again. The company has just announced the acquisition of Belgian logistics software provider Intris, which in 2016 reported an EBITDA of roughly $1.1 million. The transaction includes an earn-out clause and may cost up to $17 million. 

The acquisition adds to the company’s recent record of acquisitions in Europe, Asia and America, placing the Australian developer of logistics software at the forefront of the industry as a rapidly growing global group. The strategy has paid off so far, with the WiseTech share price increasing nearly threefold over the past year, resulting in a sky-high P/E ratio of over 137. 

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Motley Fool contributor Tommaso Autorino has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of WiseTech Global. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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