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Descartes (DSGX) To Acquire Integrated Export Systems In Asian Push

 June 13, 2012 07:31 AM
 

(By Balachander) Descartes Systems Group (NASDAQ:DSGX) (TSE: DSG.TO), a provider of logistics software, has agreed to acquire Integrated Export Systems Ltd. (IES) for around US$35 million in cash to expand its Asian presence.

IES, With offices in New Jersey and Hong Kong, provides forwarding and customs brokerage systems and regulatory compliance services for shipment security filings in the Asia Pacific region. IES' customers include FedEx (NYSE: FDX), Maersk (Damco), Kuehne + Nagel, ABF, Crowley, among others.

Canada-based Descartes said the deal strengthens its forwarder and customs broker enterprise systems application footprint to include a fully integrated (accounting, forwarder, customs broker) enterprise system.

The transaction also expands Descartes' network capabilities to improve the scope of commercial transactions handled.

The deal is expected to be completed during Descartes' second quarter ending July 31.

DSGX shares ended at $8.03 on Tuesday on the NASDAQ.


Rich
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