DSGX - Descartes buys Portrix Logistics Software for $26.7M

Descartes (DSGX) has acquired Portrix Logistics Software (Portrix), a provider of multimodal rate management solutions for logistics services providers.The purchase price is ~EUR 22 million (about $26.7M), satisfied from cash on hand.“Automated rate management tools are critical for LSPs looking to digitize the customer experience,” said Henning Voss, co-founder of Portrix and now VP Product Management, Rate Management Solutions at Descartes. “As the momentum for digitization accelerates, the demand for our solutions continues to grow. In particular, we’ve seen an increase in demand for an integrated Descartes Kontainers-Portrix solution, making the decision to combine with Descartes a logical next step for the business and our customers. We’re looking forward to taking our existing partnership with Descartes to the next level.”

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Descartes buys Portrix Logistics Software for $26.7M