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Descartes Completes Acquisition of Integrated Export Systems
Business GlobeNewswire 2012-06-16
WATERLOO, Ontario, June 15, 2012 (GLOBE NEWSWIRE) -- Descartes Systems
Group (TSX:DSG) (Nasdaq:DSGX), the global leader in uniting
logistics-intensive businesses in commerce, announced the closing of
its acquisition of substantially all of the assets of Integrated Export
Systems, Ltd. and IES Asia Limited (collectively referred to as "IES").
Previously, on June 13, 2012, Descartes announced the signing of the
definitive agreement to acquire these assets from IES, subject to
fulfilment of typical closing conditions.
The all cash purchase price for the acquisition of the IES business was
US$ 35.0 million, with Descartes acquiring approximately US$ 0.8
million in working capital.
About IES
For more information about IES, please visit www.iesltd.com.
About Descartes
Descartes 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. Descartes'
B2B network, the Global Logistics Network, integrates more than 35,000
trading partners to our cloud-based Logistics Technology Platform to
unite their businesses in commerce. 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; file customs and security documents
for imports and exports; and complete numerous other logistics
processes by participating in the world's largest, collaborative
multi-modal logistics community. Our headquarters are in Waterloo,
Ontario, Canada and we have offices and partners around the world.
Learn more at www.descartes.com.
The Descartes Systems Group logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4065
CONTACT: Descartes Investor Contact
Laurie McCauley
investor@descartes.com
(519) 746-6114 x 2358
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