Strengthens Supply Chain Messaging Capabilities on the Descartes Global Logistics Network™
WATERLOO, Ontario, Oct. 12, 2016 (GLOBE NEWSWIRE) -- Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), the global leader in uniting logistics-intensive businesses in commerce, announced that it has acquired Appterra, a leading US-based provider of cloud-based business-to-business ("B2B") supply chain integration solutions.
For over eight years, Appterra has helped its customers connect electronically, automate supply chain processes, and enhance collaboration and visibility among global trading partners. Led by a team of domain experts that understand supply chain business document processes and data compliance standards across a number of industry verticals, Appterra provides B2B integration as a cloud service for its customers. Appterra's solutions help manage and streamline a wide array of complex, mission-critical documents found in typical procure-to-pay and order-to-cash processes.
"Our Global Logistics Network helps isolate customers from the complexities of different protocols, semantics and end-user requirements for managing and transmitting electronic supply chain data and documents," said Edward J Ryan, Descartes' CEO. "By adding Appterra's technology and services to our business, our customers will have access to broader data integration capabilities for standardizing and automating buy-side and sell-side processes. Equally, Appterra's customers will now join Descartes' logistics community, presenting additional opportunities for trading partners to collect and share logistics data earlier in the business process."
Descartes acquired Appterra for up-front consideration of $USD 5.8 million, plus potential performance-based consideration. The maximum amount payable under the all-cash performance-based earn-out is $USD 1.6 million, based on Appterra achieving revenue-based targets in each of the first two years post-acquisition. Any earn-out is expected to be paid in fiscal 2018 and fiscal 2019.
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com.
For more information about Appterra visit https://appterra.com/.
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