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.
