Descartes Makes Two Acquisitions for $87.5 Million
Descartes Systems Group, a Canadian logistics services provider is acquiring BearWare Inc. and MK Data Services for a total of $87.5 million.
MK, based in Columbia, Maryland, specializes in trade compliance and denied-party screening solutions. Cleveland-based听BearWare uses mobile technology to help retailers and their transport providers manage shipments to stores by facilitating carton-level tracking, Waterloo, Ontario-based Descartes said in a statement.
MK鈥檚 services are of 鈥渃ritical importance鈥 to shipping because countries keep lists of businesses and people that are blocked from doing business in their jurisdiction. In order to remove those barriers, Descartes said, the compliance burden is placed on the carrier or听 company that arranged the shipment.
Allan Brett, Descartes' chief financial officer said 鈥淢K Data鈥檚 solution has flexibility that enables targeted screening of individual shipment transactions over the global logistics network.鈥
BearWare is intended to minimize inventory restocking difficulties, reduce theft and speed payment for shipments,
鈥淏earWare鈥檚 platform and team of domain experts is unique in the market, helping its customers track more than 120 million cartons a year,鈥 said Ken Wood, executive vice president of听product management at Descartes. 鈥淭he combination complements Descartes' recent investment in Airclic and further strengthens our routing, mobile and telematics platform.鈥
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