Descartes Systems Group, providers of software-as-a-service for logistics-intensive businesses, announced the closing of its acquisition of substantially all of the assets of Integrated Export Systems, Ltd. and IES Asia Limited (collectively referred to as “IES”). The all cash purchase price for the acquisition was $35 million, with Descartes acquiring approximately $0.8 million in working capital.
IES provides software-as-a-service solutions to freight forwarders, non-vessel operating common carriers (NVOCCs), and customs brokers. It also offers regulatory compliance services to logistics service providers that process shipments originating primarily from the Asia Pacific region.
“By combining the IES solutions with our Logistics Technology Platform, we strengthen our application footprint for forwarders, NVOCCs and customs brokers,” said Edward Ryan, chief commercial officer at Descartes. “We will also add thousands of logistics service providers in Asia to our global logistics community with the potential to drive new transactions over our Global Logistics Network.”
IES’s systems process numerous transactions and documents critical to the flow of goods, including warehouse receipts, purchase orders and commercial invoices, which can be made available over Descartes’ cloud-based Global Logistics Network. IES customers will also have access to additional shipment execution capabilities such as airfreight bookings, and access to a wider geographic range of regulatory compliance services for shipment security filings in Europe and South America.