Descartes Systems Group (DSGX) said it has inked an agreement to acquire substantially all of the assets of Integrated Export Systems, Ltd. and IES Asia Ltd. (collectively referred to as "IES") for about $35 million in cash. IES provides software-as-a-service solutions that help freight forwarders, non-vessel operating common carriers and customs brokers manage their businesses and improve profitability.
The transaction is expected to close during Descartes' fiscal second quarter ending July 31, 2012.
Edward Ryan, chief commercial officer at Descartes, stated, "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."
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.