Supply chain software firm Descartes Systems Group (NASDAQ:DSGX) has acquired ShipTrack, a Canadian company that offers a cloud-based logistics platform for final-mile deliveries, for $19 million.
Waterloo, Canada-based Descartes announced the acquisition on Friday and could pay an additional $19 million if ShipTrack meets revenue targets over two years.
ShipTrack offers a scalable platform for managing resources and tracking shipments. Descartes highlighted ShipTrack’s applications for e-commerce home deliveries and parcel and medical courier operations.
The acquisition is a timely one as the COVID-19 pandemic drives higher volumes of e-commerce and medical shipments.
“We believe there is a permanent shift in buying preferences underway that will continue to see an increasing number of goods being bought online,” Descartes CEO Edward Ryan said in a statement. “Descartes continues to invest in our e-commerce capabilities to make sure that our customers, large and small, can fulfil orders and meet delivery commitments efficiently.”
ShipTrack, a Blockchain in Transport Alliance (BiTA) member, is developing a blockchain-based delivery platform utilizing technology from IBM. The platform is currently in beta testing.
Click for more FreightWaves articles by Nate Tabak
Big firms eye Canada COVID-19 vaccine distribution plans
Election 2020: For Canada, stakes go beyond trade
Canada needs logistics help with millions of COVID-19 vaccine doses
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post • Chicago, IL Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now