Descartes Acquires Impatex
December 23 2013 - 7:15AM
Adds UK Forwarder Community to Descartes Global
Logistics Network and Enhances European Customs and Forwarding
Market Coverage
WATERLOO, Ontario, Dec. 23, 2013 (GLOBE NEWSWIRE)
-- Descartes Systems Group (TSX:DSG)
(Nasdaq:DSGX), the global leader in uniting logistics-intensive
businesses in commerce, acquired Impatex Freight Software Limited
("Impatex"), a leading provider of electronic customs filing and
freight forwarding solutions in the UK.
Impatex brings more than 200 freight forwarder customers to
Descartes' Global Logistic Network, with the majority of these in
the UK. By combining Impatex's leading UK customs and forwarding
solutions with Descartes' global community of logistics
participants and logistics management solutions, customers now have
a single trusted partner to help them manage their shipments across
the globe.
The European customs compliance market is characterized by a
complex framework of member states, each with different
regulations, languages, and systems. Transportation carriers,
logistics intermediaries and shippers look to technology partners,
like Descartes and Impatex, to manage this complex environment.
Freight forwarding operations are also faced with similar business
and regulatory challenges at a local level. Freight forwarding
technology solutions address those local challenges to allow users
to operate efficiently and with a high degree of confidence.
"Impatex has been developing its feature-rich, UK customs
compliance platform in a transaction-based revenue business model
for more than 20 years," said Edward J. Ryan, Descartes' CEO.
"Impatex strengthens Descartes' Customs and Regulatory Compliance
platform with additional functionality and a broader set of
services for the UK market. In addition, Impatex's NetFreight
forwarding application provides an agile operations platform for
smaller forwarders to address local needs while extending their
business reach and efficiency through integration with Descartes'
Global Logistics Network."
"We welcome Impatex and its customers to the Descartes
community," said Richard Dobber, SVP of European Sales at
Descartes. "We look forward to helping Descartes' Global Logistics
Network customers further enhance their own logistics operations
through access to Impatex's logistics community and market-leading
UK compliance solutions. At the same time, we're very excited to
introduce Descartes' logistics management portfolio to Impatex
customers, helping them connect to the global logistics community
and operate even more efficiently and effectively."
Impatex is headquartered in Cadnam, UK. The all cash purchase
price for the acquisition was GBP 5.1 million (approximately USD
$8.3 million at December 20, 2013). Descartes funded the purchase
price for this acquisition by drawing on its existing acquisition
line of credit.
About Descartes
Descartes (TSX:DSG) (Nasdaq:DSGX) 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. Descartes has over 171,000 parties
using its cloud based services. 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; file customs and
security documents for imports and exports; and complete numerous
other logistics processes by participating in the world's largest,
collaborative multi-modal logistics community. Our headquarters are
in Waterloo, Ontario, Canada and we have offices and partners
around the world. Learn more at www.descartes.com.
About Impatex
For more information about Impatex, visit www.impatex.com.
This release contains forward-looking information within the
meaning of applicable securities laws ("forward-looking
statements") that relate to Descartes' solution offering and
potential benefits derived therefrom; and other matters. Such
forward-looking statements involve known and unknown risks,
uncertainties, assumptions and other factors that may cause the
actual results, performance or achievements to differ materially
from the anticipated results, performance or achievements or
developments expressed or implied by such forward-looking
statements. Such factors include, but are not limited to, the
factors and assumptions discussed in the section entitled, "Certain
Factors That May Affect Future Results" in documents filed with the
Securities and Exchange Commission, the Ontario Securities
Commission and other securities commissions across Canada. Readers
are cautioned not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made.
We do not undertake or accept any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements to reflect any change in our expectations or any change
in events, conditions or circumstances on which any such statement
is based.
CONTACT: Global Media Contact
Mavi Silveira
+1(800) 419-8495 ext. 202416
msilveira@descartes.com
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