Descartes acquires Telargo
Descartes Systems Group, a Waterloo, Ontario-based logistics technology company, has acquired privately held Telargo Inc.
Telargo provides software-as-a-service to companies to monitor and manage mobile assets such as vehicles, workforce, equipment and cargo and to help fleet owners comply with various domestic transportation regulations.
Telargo says its telematics products gather information about vehicles, such as location, engine use and braking information, and the drivers of those vehicles, such as hours of driver service.
For example, it said the data it collects can help fleet owners comply with new driver hours of service and fuel tax reporting regulations in the United States.
Telargo is headquartered in Jersey City, N.J., and has offices in Ljubljana, Slovenia, with about 35 employees. Descartes paid about $9.6 million in cash and incurred certain transaction expenses, net of working capital received, to complete the acquisition.