DLA Piper advises Shippit on strategic purchase
Global law firm DLA Piper advised logistics technology company, Shippit, on the acquisition of Singaporean start-up Luwjistik for maximum transaction value of approximately AUD18 million. The transaction completed on 31 October 2022.
Shippit's leading multi-carrier shipping technology helps retailers ship smarter, optimise their fulfilment and share better post-purchase experiences.
“We were pleased to advise Shippit on this transaction, which will help to materialise the company’s expansion plans in South East Asia,” said Melbourne-based Dylan Burke, Corporate Partner, DLA Piper.
Luwjistik is the creator of a unified API that allows freight forwarders, couriers and third party logistics companies to connect into network partners globally.
The cross-border team was led by Dylan Burke (Partner) in Australia, with the assistance of Joel Cox (Partner) and Mariana Estifo (Solicitor); and in Singapore comprised Kat Chew (Partner), Karen Lee (Associate), and Jia De Yam (Associate).
“This deal demonstrates DLA Piper’s capabilities as a global law firm in facilitating complex cross-border transactions,” Dylan added.
“This is a landmark deal for Shippit and one which is fundamental to driving growth and our international expansion,” said William On, Shippit’s Co-Founder and Joint-CEO.
For the 12th consecutive year, DLA Piper was the highest-ranked legal advisor in the world for M&A deal volume, according to Mergermarket's league tables. The firm was involved in 1,104 transactions worldwide in 2021, valued at approximately USD242 billion.
Founded in 2014, Shippit's multicarrier technology saves retailers time, money and provides better experiences for delivery recipients. By simplifying omnichannel fulfilment and automatic carrier allocation, Shippit powers eCommerce growth.