12-08-2014, 10:35 AM
(This post was last modified: 12-08-2014, 10:37 AM by panamaniac.)
Descartes Systems makes buys two U.K. companies
Waterloo Region Record
WATERLOO —Descartes Systems Group has made two acquisitions in the United Kingdom to bolster its services for the global logistics and transportation industries.
E-Customs Inc. provides electronic security and electronic document services to comply with U.K. filing requirements.
Pentant Ltd. offers systems that handle customs documentation and inventory control for ocean, truck and air cargo for several U.K. ports and airports.
The total up-front cost of the two acquisitions is about $11.8 million US, with provisions for Descartes to make additional performance-related payments.
The Waterloo-based company said Monday it will pay 5.8 million pounds, or about $9 million US, for E-Customs, and up to about $1.2 million US over the next year of certain targets are met.
It will pay 1.8 million pounds, or about $2.8 million US, for Pentant plus up to $400,000 in additional payments.
E-Customs and Pentant were previously independently operated companies under the common control of several private investors in the United Kingdom.
Descartes operates a global network that provides tools and services for air, land and water-borne carriers, logistics companies and their clients.
Waterloo Region Record
WATERLOO —Descartes Systems Group has made two acquisitions in the United Kingdom to bolster its services for the global logistics and transportation industries.
E-Customs Inc. provides electronic security and electronic document services to comply with U.K. filing requirements.
Pentant Ltd. offers systems that handle customs documentation and inventory control for ocean, truck and air cargo for several U.K. ports and airports.
The total up-front cost of the two acquisitions is about $11.8 million US, with provisions for Descartes to make additional performance-related payments.
The Waterloo-based company said Monday it will pay 5.8 million pounds, or about $9 million US, for E-Customs, and up to about $1.2 million US over the next year of certain targets are met.
It will pay 1.8 million pounds, or about $2.8 million US, for Pentant plus up to $400,000 in additional payments.
E-Customs and Pentant were previously independently operated companies under the common control of several private investors in the United Kingdom.
Descartes operates a global network that provides tools and services for air, land and water-borne carriers, logistics companies and their clients.