DLA Piper advises Freightos Limited in its business combination with Gesher I Acquisition Corp.

DLA Piper advised Freightos Limited (Freightos), a leading global freight booking company, in the closing of its business combination with Gesher I Acquisition Corp. (Gesher), a special purpose acquisition company. The combined company will operate as Freightos Limited. Ordinary shares and warrants of Freightos will trade on the Nasdaq under the ticker symbols "CRGO" and “CRGOW,” respectively.

Freightos connects key participants across the global freight ecosystem - including hundreds of airlines, ocean liners and trucking companies, thousands of freight forwarders and over 10 thousand importers/exporters - through a transparent digital platform that allows real-time global freight rate comparison, booking, payment and shipment management.

The capital raised from the business combination will be invested in further scaling the business, increasing transaction growth and revenue, developing the technology stack, driving additional value for customers and improving margins. The implied pro forma enterprise value of the combined company is approximately US$435 million.

“Congratulations to Freightos on this momentous business combination and capital raise, which will enable the company to scale its booking and payment platform and drive value for customers,” said Stephen Alicanti, the DLA Piper partner who co-led the deal team. “It was a pleasure to advise the Freightos team and have an opportunity to demonstrate our extensive M&A and capital markets capabilities in this transaction.”

Along with Alicanti (New York), the DLA Piper team that advised Freightos was co-led by Jon Venick (New York) and Jeremy Lustman (Washington, DC) and included partners Rita Patel (Washington, DC) and Drew Young (New York). 

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 13 consecutive years, according to Mergermarket.