Australian Competition Regulator Searches WiseTech in Antitrust Probe

The Australian Competition and Consumer Commission sought documents concerning the supply of global logistics services and software, according to BigGo Finance. Neither WiseTech nor the ACCC disclosed what specific records were targeted or detailed the conduct under examination.

WiseTech said it intended to cooperate fully with the ACCC investigation, according to BigGo Finance. The regulator did not immediately respond to a request for comment cited by the publication.

The Sydney-based company’s shares fell to A$38.05, putting the stock on track for its sharpest one-day decline since late June, BigGo Finance reported. The selloff underscores investor concern that regulatory scrutiny may now extend directly to WiseTech’s core operations rather than the governance controversies that have weighed on the company since late 2024.

The ACCC administers Australia’s competition and consumer-protection laws and can seek documents and pursue enforcement action over potential violations. According to BigGo Finance, the warrant covered material connected with global logistics services and software, businesses at the heart of WiseTech’s operations. The precise legal theory behind the investigation has not been made public.

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WiseTech provides software to freight forwarders, logistics companies and customs brokers around the world. Its CargoWise platform has expanded alongside a strategy of acquiring businesses across the fragmented logistics-technology sector, according to BigGo Finance.

The antitrust scrutiny arrives as the company is still dealing with the fallout surrounding co-founder Richard White. White stepped down as chief executive in October 2024 and remained executive chairman until July 2026, BigGo Finance reported.

In June, WiseTech shares dropped almost 20% after reports that the Australian Federal Police were investigating allegations involving White’s personal conduct and information supplied in connection with a visa application, according to BigGo Finance. WiseTech said at the time that the reported inquiry related to White personally and that it was unaware of an investigation matching the media reports. White denied the allegations, the publication reported.

The cumulative damage to the stock has been substantial. WiseTech has lost roughly 70% of its value since allegations concerning White’s personal life first emerged in late 2024, according to BigGo Finance.

Wednesday’s regulatory action changes the nature of the risk confronting investors. The earlier controversies centered largely on leadership and corporate governance, while the ACCC warrant concerns documents tied to WiseTech’s commercial activities. That raises questions about whether the regulator’s investigation could affect the company’s business practices or competitive position.

For now, the scope and potential consequences remain unclear. BigGo Finance reported that neither the ACCC nor WiseTech disclosed the particular documents sought, leaving investors with limited information about what prompted the search or whether enforcement action could follow.

Source: BigGo Finance