Descartes Acquires STEPcom
June 27 2019 - 8:29AM
Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), the global leader
in uniting logistics-intensive businesses in commerce, announced
that it has acquired STEPcom, a leading Business-to-Business
(“B2B”) supply chain integration network based in Switzerland.
STEPcom has connected trading partners to its
B2B network for more than 15 years, helping supply chain
participants connect, collaborate and seamlessly exchange
electronic data. A community of more than 600 customers leverage
the STEPcom suite of solutions to automate supply chain processes
and streamline a wide array of complex, mission-critical documents
found in typical procure-to-pay and order-to-cash processes.
STEPcom also operates a GS1-certified, industry-independent data
content pool where suppliers can share product master data with
customers all around the world.
“The supply chain landscape continues to evolve
as an increasing number of industries are pushing for more and more
electronic data from their trading partners, putting pressure on
supply chain participants to manage a dynamic set of connections
with often-changing trading partners” said Fred van der Heide, VP
of Product Strategy at Descartes. “STEPcom’s network, much like
Descartes’ Global Logistics Network, helps isolate customers from
the complexities of different protocols, semantics and end-user
requirements for managing and transmitting electronic supply chain
data and documents.”
“The STEPcom acquisition complements our
previous Compudata investment in Switzerland, helping us to better
serve the market and introduce a wider set of solutions to a larger
customer base,” said Edward Ryan, Descartes’ CEO. “We welcome
STEPcom’s customers and its strong team of B2B supply chain domain
experts to the Global Logistics Network.”
STEPcom is headquartered in Rheinfelden,
Switzerland. Descartes acquired the various group of companies that
collectively operate under the STEPcom name for CHF 19.3 million in
cash (approximately $US 19.6 million), satisfied from Descartes’
existing acquisition line of credit.
About Descartes Systems
GroupDescartes (Nasdaq:DSGX) (TSX:DSG) 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. 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; access global trade
data; file customs and security documents for imports and exports;
and complete numerous other logistics processes by participating in
the world's largest, collaborative multimodal logistics community.
Our headquarters are in Waterloo, Ontario, Canada and we have
offices and partners around the world. Learn more at
www.descartes.com.
Global Media Contact Mavi
Silveira
Tel: +1(800) 419-8495 ext.
202416
msilveira@descartes.com
Cautionary Statement Regarding
Forward-Looking StatementsThis release contains
forward-looking information within the meaning of applicable
securities laws ("forward-looking statements") that relate to
Descartes' acquisition of STEPcom and its solution offerings; the
potential to provide customers with supply chain automation tools
and master data management solutions; other potential benefits
derived from the acquisition and STEPcom’s solution offerings; 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 including Descartes most recently filed management's
discussion and analysis. If any such risks actually occur, they
could materially adversely affect our business, financial condition
or results of operations. In that case, the trading price of our
common shares could decline, perhaps materially. Readers are
cautioned not to place undue reliance upon any such forward-looking
statements, which speak only as of the date made. Forward-looking
statements are provided for the purposes of providing information
about management's current expectations and plans relating to the
future. Readers are cautioned that such information may not be
appropriate for other purposes. 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, except as
required by law.
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