DSG:CC - Descartes Systems acquires XPS Technologies for $65M

Descartes Systems (NASDAQ:DSGX) has acquired Utah based XPS Technologies for up-front consideration of ~$65.0M with cash on hand, plus potential performance-based consideration. XPS provides its cloud-based multi-carrier parcel shipping solutions directly to small-, medium- and large-sized ecommerce shippers. The deal boosts ecommerce shipping capabilities on the Global Logistics Network. The maximum amount payable under the all-cash performance-based earn-out is $75.0M, based on XPS achieving revenue-based targets in each of the first two years post-acquisition. The earn-out if any, is expected to be paid in fiscal 2024 and fiscal 2025.

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Descartes Systems acquires XPS Technologies for $65M