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Market Roundup: Veem Secures Defence Grants, EROAD Delivers Profitable Growth, and WiseTech Expands with e2open Acquisition

Veem Ltd, a leading designer and manufacturer of marine propulsion and stabilization systems, has been awarded a total of $2 million in grants from the Australian government's Defence Industry Development Grants Program. The grants will fund the purchase of a 3D sand printer and a multi-axis CNC machine, which will be used to produce critical components for naval vessels. This investment is expected to bolster Veem's capabilities and support the Australian defence industry.

Across the Tasman, EROAD Limited, a transportation technology services company, has reported strong financial results for the 2025 fiscal year. The company saw a substantial improvement in free cash flow, which rose to $16 million, driven by the expansion of existing customer contracts, new customer wins, and cost management. Revenue climbed 6.8% to $194.4 million, and Annualised Recurring Revenue increased by 6.1% to $175.1 million. EROAD's strategy of focusing on enterprise fleets and maintaining cost discipline has delivered sustainable, profitable growth, and the company is well-positioned to continue this momentum in the future.

In the logistics software space, WiseTech Global has announced a strategic acquisition that will significantly expand its ecosystem. The company is acquiring e2open, a leading provider of SaaS-based solutions in the global logistics value chain, for $2.1 billion. This acquisition adds a complementary product suite that extends the CargoWise ecosystem, especially in areas like domestic logistics, carrier integration, global trade, and supply chain management. The transaction is expected to be earnings-accretive in the first year and aligns with WiseTech's disciplined M&A approach.

These announcements highlight the diverse growth opportunities and strategic initiatives being undertaken by companies across the Australian and New Zealand markets. Investors will be closely watching the progress of these developments and the impact they have on the respective companies' financial performance and market positions.