Descartes Systems Group said it will acquire substantially all of the assets of Integrated Export Systems and IES Asia for about $35 million in cash.
IES provides software service to more than 600 freight forwarders, non-vessel-operating common carriers and customs brokers around the world from offices in New Jersey and Hong Kong.
Edward Ryan, chief commercial officer at Descartes, said the acquisition will strengthen the company’s application footprint and add thousands of logistics service providers in Asia to its 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.
“We’ve been working with the IES team as part of our United by Design partner program for more than six years,” said Art Mesher, Chairman and CEO at Descartes.
The transaction is expected to close during Descartes’ fiscal second quarter ending July 31, subject to customary closing conditions.