DSGX - Descartes Systems announces it has acquired NetCHB for $40M

Descartes Systems Group (NASDAQ:DSGX) has acquired NetCHB, a leading provider of customs filing solutions in the US. Descartes acquired NetCHB for up-front cash consideration of $40M, plus potential performance-based consideration. The maximum amount payable under the all-cash performance-based earn-out is $60M, based on NetCHB achieving revenue-based targets over the first two years post-acquisition. “As the digitization of the logistics and supply chain industry picks up pace, we continue invest in complementary solutions that add depth and breadth to our Global Logistics Network,” said Edward J. Ryan, Descartes’ CEO.

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Descartes Systems announces it has acquired NetCHB for $40M