On-demand logistics software-as-a-service specialist The Descartes Systems Group Inc. (Waterloo, Ontario) completed its acquisition of certain assets of privately-held Cube Route Inc. (Toronto, Ontario).
Cube Route provides on-demand logistics management solutions that include planning, routing, sequencing and optimizing of delivery routes, real-time driver and vehicle tracking, and delivery route analysis. Offered on a pay-as-you-go subscription basis, Cube Route's solution for last-mile logistics is used by distribution-sensitive organizations to lower operating costs, improve customer service and reduce operational complexity.
The Cube Route assets acquired include specified accounts receivable and customer contracts, capital assets, technology, and other intellectual property. In addition, 15 employees of Cube Route are joining Descartes to assist with the continued delivery of the Cube Route service offering. To complete the transaction, Descartes paid approximately U.S. $1.6 million in cash, assumed certain Cube Route liabilities and incurred transactional expenses.
"Cube Route and Descartes each focus on providing superior on-demand logistics management solutions to help customers improve productivity while reducing costs in their delivery operations," said Arthur Mesher, CEO of Descartes. "We believe that the combination of Cube Route's on-demand delivery model and technology, together with our experience in delivering high-quality delivery management solutions over our Global Logistics Network, presents a compelling solution that is complementary to our leading route planning and execution solutions."
Source: Cube Route