07:59 AM EDT, 08/19/2024 (MT Newswires) -- Freightos ( CRGO ) said Monday it acquired Shipsta, a freight-tender procurement platform, for a price that includes a cash payment of 4.5 million euros ($5 million) and approximately 640,000 Freightos ( CRGO ) shares issued to a "key Shipsta shareholder."

Freightos ( CRGO ) said it expects Shipsta to contribute about $800,000 to its revenue during the last four months of 2024, and $4 million to $5 million in 2025.

The acquisition is expected to help Freightos ( CRGO ) reach positive adjusted EBITDA by the end of 2026 without requiring additional capital, the company said.

Freightos ( CRGO ) shares were nearly 10% higher in premarket trading.

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