Deal for IES worth $35 million
WATERLOO, Ontario: Descartes Systems Group is acquiring the software-as-a-service (SAAS) company Integrated Export Systems.
Headquartered in Midland Park, New Jersey, Integrated Export Systems Ltd and its Hong Kong-based subsidiary, IES Asia Limited, produce software solutions for freight forwarders, non-vessel operating common carriers (NVOCCs) and customs brokers. It also offers regulatory compliance solutions, especially ones tailored to those working in the Asia-Pacific region.
Edward Ryan, chief commercial officer at Descartes says the addition of IES will help round-out Descartes’s own offerings.
“By combining the IES solutions with our logistics technology platform, we strengthen our application footprint for forwarders, NVOCCs and customs brokers. 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.”
According to Descartes, IES data will be able to run over Descartes networks.
“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’s 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.”
The $35 million sale is expected to be finalized sometime before July 31—the end of the Q2 reporting period for Descartes.