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Shippit buys Singapore start-up
Global law firm DLA Piper has advised Shippit on its acquisition of Singaporean start-up Luwjistik.
Emma Musgrave
Firms: DLA Piper (Shippit); Undisclosed (Luwjistik)
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Deal: Shippit has acquired Luwjistik.
Value: Approximately $18 million
Area: Merger and acquisition
Key players: The DLA Piper team was led by partner Dylan Burke with support from partner Joel Cox and solicitor Mariana Estifo.
Singapore-based partner Kat Chew and associates Karen Lee and Jia De Yam also assisted on the deal.
Deal significance: Shippit is a logistics technology company founded in 2014. The company aims to help retailers “ship smarter, optimise their fulfilment and share better post-purchase experiences”.
Meanwhile, Luwjistik is the creator of a unified API that allows freight forwarders, couriers and third-party logistics companies to connect with network partners globally.
“We were pleased to advise Shippit on this transaction, which will help to materialise the company’s expansion plans in south-east Asia,” said lead partner on the deal Dylan Burke.
“This deal demonstrates DLA Piper’s capabilities as a global law firm in facilitating complex cross-border transactions.”
Commenting further, William On, Shippit’s co-founder and joint chief executive, said: “This is a landmark deal for Shippit and one which is fundamental to driving growth and our international expansion.”
