Descartes acquires Scancode
Logistics software-as-a-service provider Descartes Systems Group said Wednesday that it had acquired privately-held Scancode Systems Inc., a developer and integrator of carrier-compliant parcel and less-than-truckload shipping systems.
Scancode provides up-to-date rates that allow customers to make efficient shipment decisions and comply with carrier manifesting and labeling requirements. The company said its strength is in helping to manage small parcel shipments with postal services, a variety of small-package delivery carriers and over 150 LTL carriers. Scancode also has supporting warehouse and automated data collection functionality.
Descartes also announced its results for the fiscal year ending Jan. 31. Net income was $20.5 million, down by $1.9 million from $22.4 million in the prior fiscal year. Revenue was $66 million for the year up from $59 million in the prior fiscal year.