US-based Descartes Systems Group, a market leader in bringing together logistics-intensive companies, is acquiring US logistics service provider Supply Vision for $12 million. Descartes operates in Belgium from its offices in Lier.
Supply Vision has been helping logistics service providers digitise their operations and track the lifecycle of shipments for many years. The company, headquartered in Phoenix, Arizona, provides applications for the entire supply chain process. With its Supply Vision platform, every step in the process can be tracked in real time.
“The momentum for digitalisation in logistics continues to grow,” says Scott Sangster, general manager Logistics Services Providers at Descartes. “To efficiently meet customer demand while operating profitably, logistics service providers must invest in solutions that automate processes across multiple parties and leverage real-time information.”
$12 million
Descartes bought Supply Vision for about $12 million. There is also a potential performance-based payment of up to $3 million, depending on whether or not Supply Vision achieves certain revenue targets in each of the first two years after the acquisition. Any earn-out is expected to be paid in FY2025 and FY2026.
“The acquisition of Supply Vision complements our recent investments in QuestaWeb, Kontainers and Portrix, through which we aim to expand our presence for logistics service providers,” said Edward J Ryan, CEO of Descartes. “We look forward to continuing to work with Supply Vision’s customers, partners and team of experts to help logistics service providers digitise their operations and manage the shipment lifecycle in a secure, efficient and sustainable manner.”
