DSG:CC - Descartes Systems acquires GroundCloud for ~$138M

• Descartes Systems Group ( NASDAQ: DSGX ) has acquired Minneapolis, Minnesota-based GroundCloud for up-front consideration of ~$138M satisfied with cash on hand, plus potential performance-based consideration.
• The maximum amount payable under the all-cash performance-based earn-out is $80M, based on the combined business achieving revenue-based targets in each of the first two years post-acquisition. Any earn-out is expected to be paid in fiscal 2025 and fiscal 2026.
• GroundCloud is a cloud-based provider of final-mile carrier solutions and road safety compliance tools. The deal strengthens Descartes' final-mile carrier capabilities and adds road safety compliance platform.

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