Descartes acquires ecommerce shipment tracking firm ShipTrack

ShipTrack provides cloud-based mobile resource management and shipment tracking solutions. These solutions assist customers with automating dispatches, updating the shipment status, estimating the time of arrival, and with eliminating paper-based delivery processes.

According to dcvelocity.com, Descartes plans to add ShipTrack to its Global Logistics Network, which it describes as a collaborative web of logistics firms that pool their standards to facilitate global shipping and compliance through digital data exchange.

According to the press release, Descartes acquired ShipTrack for up-front cash consideration of CAD 25 million, plus potential performance-based consideration. The maximum amount payable under the all-cash performance-based earn-out is CAD 25 million, based on ShipTrack achieving revenue-based targets over the first two years post-acquisition.