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Descartes acquires ecommerce shipment tracking firm ShipTrack

Tuesday 10 November 2020 14:03 CET | News

Canada-based logistics technology provider Descartes has announced the acquisition of ShipTrack, an ecommerce final-mile solutions provider.

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.


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Keywords: Descartes, ShipTrack, Canada, North America, acquisition, ecommerce, shipment tracking, dispatch automation, logistics
Categories: Payments & Commerce | Ecommerce
Countries: Canada
This article is part of category

Payments & Commerce