Descartes Systems Group acquires Kontainers for $12m, says a press release published on their website.
Descartes Acquires Kontainers
Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), the global leader in uniting logistics-intensive businesses in commerce, announced that it has acquired Cracking Logistics Limited dba “Kontainers”, a leading provider of client-facing digital freight execution platforms.
The deal includes up-front cash of $ US6m – based on satisfying revenue targets in the next two years – plus potential performance-based additions. Any earn-out will be payable in fiscal 2022 and 2023.
About Kontainers
Headquartered in the UK, Kontainers transforms the customer experience for carriers, freight forwarders and third-party logistics service providers around the world.
- Kontainers’ solutions facilitate a fully digital customer experience including quoting, booking, tracking and dashboard analytics.
- The company’s digital freight platform enables these logistics services providers to rapidly create branded state-of-the-art digital experiences for their end customers.
- Kontainers’ technology also helps API-enable LSPs while preserving their investments in existing rate management and back-office systems.
Kontainers team
Graham Parker, co-founder of Kontainers and now VP Sales Digital Freight Solutions at Descartes said that the company had worked very hard with some of the world’s top logistics companies to create an optimal digital customer experience.
“Our team of domain experts is thrilled to combine with Descartes, which will give us the opportunity to reach a broader audience much more quickly. When added to the Global Logistics Network, we’ll also have the ability to offer a pre-integrated solution that combines Kontainers digital freight execution with Descartes’ rate management and forwarder enterprise systems”
CEO Descartes’s comment
Chief executive of Descartes Edward Ryan said, “The past few months have shown how quickly the world can change, and the shift to digitisation is accelerating as a result.”
“Logistics services providers operate on tight margins. Those that don’t move quickly to digitise their customer experience will be faced with higher costs to serve. We’re looking forward to working with Kontainers’ customers, partners and team of domain experts to help the logistics community capitalise on this opportunity.”
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Source: Descartes
