Descartes Acquires MK Data Services LLC [IT]
Descartes Systems Group announced that it has acquired MK Data Services LLC ("MK Data"), a leading US-based provider of denied party screening trade data and solutions.
Denied party screening is essential for minimizing business risk today. Governments of various countries, as well as international organizations, maintain a variety of lists of people, organizations and countries that it is restricted or prohibited to do business with. This includes customers, suppliers, employees and business partners for business processes such as contracting, shipping and payment.
Denied party screening is of critical importance in shipping and international trade. Often, the burden of compliance with these business restrictions is placed on those involved in the logistics of a shipment, such as the exporting business, the logistics intermediary / freight forwarder or the transportation carrier. Penalties for non-compliance have included civil fines, revocation of export privileges and criminal charges. In addition, since penalties are published publicly, non-compliance with these trade restrictions can bring with it tremendous reputational damage.
For over 20 years, MK Data has provided comprehensive technology solutions that help more than 900 businesses comply with these restrictions by screening for transactions with specified parties. As an existing business partner of Descartes with a connection to the GLN, MK Data's technology screens shipments against a comprehensive, frequently updated international database of restricted parties. MK Data's proprietary matching algorithms, which customers can sensitivity-adjust to suit their own risk concerns, flag potential compliance issues for prompt resolution. Like Descartes' Customs Info trade data content, MK Data's content also powers leading Global Trade Management (GTM) systems, and can be integrated with Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems to enable customers to implement a comprehensive trade compliance program.
"The Global Logistics Network is the logical place for multi-national shippers, logistics intermediaries and transportation carriers to screen for compliance with international trade restrictions," said Edward J. Ryan, Descartes' CEO. "Over 11,000 customers use the GLN to manage and execute shipments every day across various modes of transportation, countries of origin and destination and commodities. Our combination with MK Data is truly a unifying acquisition for our business, as trade compliance is both an individual and shared interest of every single participant on the GLN."
"With highly-recurring revenues and close relationships with GTM system providers, MK Data has been a growing, high-margin business with increasing relevance to the trade community," said Allan Brett, Descartes' Chief Financial Officer. "MK Data's solution has flexibility that enables targeted screening of individual shipment transactions over the GLN as well as ongoing compliance screening of our customers' own roster of prospects, customers and suppliers."
MK Data is headquartered in Columbia, Maryland. The purchase price for the acquisition was approximately US $76.3 million in cash plus the assumption of approximately US $7.2 million of contingent and other cash payment liabilities. Descartes intends to provide further information relating to the acquisition in its public conference call relating to its second quarter fiscal 2016 (Q2FY16) financial results, currently anticipated to be in early September 2015. The acquisition is not expected to contribute materially to Descartes' revenues or Adjusted EBITDA for Q2FY16.
Posted at 16:22 パーマリンク
Descartes Acquires BearWare, Inc. [IT]
Descartes Systems Group announced that it has acquired BearWare, Inc. ("BearWare"), a leading US-based provider of mobile solutions to improve collaboration between retailers and their logistics service providers.
For over 25 years, BearWare has been helping retailers and their logistics service providers collaborate on store shipments. BearWare's system leverages mobile technologies to scan cartons at each point from the distribution centers through to the store front. This carton-level tracking complements shipment-level tracking and helps pro-actively identify potential inventory replenishment for each store, reduces theft and claims for lost cartons, and streamlines shipment payment. It also supports pool distribution, which helps retailers to reduce logistics costs and minimize store disruptions by eliminating unconsolidated direct shipments from suppliers and retailer distribution centers into the stores. The BearWare system is being used by leading retailers, including L Brands, Restoration Hardware and GNC to save money, support loss prevention programs and improve delivery operations effectiveness.
"Traditional retail distribution systems are not set up to handle plan versus actual tracking at the carton level," said Ken Wood, Executive Vice President Product Management at Descartes. "BearWare's platform and team of domain experts is unique in the market, helping its customers track more than 120 million cartons a year. The combination complements Descartes' recent investment in Airclic and further strengthens our Routing, Mobile and Telematics platform."
"Omni-channel retailing is putting tremendous pressure on retailers to leverage their assets more effectively and be responsive to the market," said Edward J. Ryan, Descartes' CEO. "The BearWare solution provides retailers with another way to move their goods efficiently through the supply chain to help ensure that they have the right goods, in the right location, at the right time and for the lowest cost."
BearWare is headquartered in Cleveland, Ohio. The purchase price for the acquisition was approximately US $11.25 million which was satisfied in cash. Descartes intends to provide further information relating to the acquisition in its public conference call relating to its second quarter fiscal 2016 (Q2FY16) financial results, currently anticipated to be in early September 2015. The acquisition is not expected to contribute materially to Descartes' revenues or Adjusted EBITDA for Q2FY16.
Posted at 16:21 パーマリンク
Luminator Technology Group Acquires Axion Technologies [IT]
Luminator Technology Group (LTG) is pleased to announce the acquisition of Axion Technologies.
Axion Technologies was founded in 1974 and designs, manufactures and supplies advanced Passenger Information, Communication and CCTV systems for the Mass Transit Industry.
The acquisition of Axion will enhance our Mass Transit portfolio and augment our offering in the passenger information and communication systems.
With the integration of Axion Technologies into the LTG family, "I am pleased to announce the appointment of Carl Cassista to the position of President for LTG Global Rail reporting directly to me," said Avi Zisman, CEO of Luminator Technology Group.
LTG will maintain our branding strategy of keeping the world-class products marketed under the Luminator, LAWO, Axion, Focon, Mobitec and TwinVision brand names independent to ensure continued support to our customers and maintain healthy competitiveness in the market place.
Through our individual brands and by combining our skills, experience and resources we will continue to provide the best and most comprehensive support to our customers operations worldwide.
Posted at 23:12 パーマリンク
Descartes Routing & Mobile Technology Powers US LBM's Innovative Mobile Construction Delivery Solution [IT]
Descartes Systems Group announced that it is powering an innovative, customer-focused mobile solution for US LBM Holdings, LLC, one of the largest and fastest growing lumber and building materials distributors in the United States. The solution, designed to improve contractor efficiency, combines advanced delivery route management and mobile handheld capabilities to help better manage construction projects.
"In our dynamic industry, many orders expect delivery within 24 hours. It is paramount to our success that we meet those expectations and provide great customer service," said Senthil Arumugam, Vice President of Logistics and Inventory Management at US LBM. "By working with Descartes, we now have a solution that gives our highly mobile customers accurate and extensive real-time visibility into the details and timing of their construction site deliveries. We believe this mobile delivery management system is among the first available in our industry and will help our customers be more productive."
US LBM is using Descartes Route Planner™'s dynamic delivery planning and execution capabilities and Descartes Mobile™'s real-time two-way update capability to help improve its customer service and productivity. Descartes' solutions have helped US LBM in many locations to improve on-time delivery from 70% to 95% while decreasing costs by over 10%. The enhanced fleet visibility made possible by integrated GPS-tracking has helped US LBM to turnaround trucks more than 30% faster, resulting in better customer responsiveness and improved utilization.
US LBM's integrated mobile customer application offers a number of important services to manage orders. It integrates tightly with Descartes' solution to provide real-time delivery updates, proof of delivery and automated exception notifications. Paperless proof of delivery, enhanced by picture and signature capture functionality, has significantly reduced the number of customer calls and claims, and has helped US LBM to save tens of thousands of dollars every month with better delivery claim resolution.
"We're pleased to work with leading companies, such as US LBM, who believe that focusing on the customer delivery experience is key to their business success," said Chris Jones, EVP Marketing and Services at Descartes. "US LBM has leveraged Descartes' real-time delivery route planning, execution and mobile solutions to achieve a classic 'win-win' - improved customer satisfaction with more accurate and timely visibility into delivery times, as well as improved fleet efficiency and effectiveness."
Posted at 23:00 パーマリンク
Woolworths has deployed Descartes Route Planner™ [IT]
Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Woolworths, Australia's largest retailer, has deployed Descartes Route Planner™ and cloud-based Descartes Mobile™ with The Bestrane Group, a Descartes 'United by Design' partner in Australia, to support increased growth of its online grocery business.
"The Woolworths online grocery business has grown at a significant pace and this trend continues to accelerate," said Roger Steele, Head of Online Operations at Woolworths Supermarket. "The Descartes/Bestrane solution helps us address complex delivery requirements that contribute to customer satisfaction and an enhanced online ordering experience. It meets our needs today, and is capable of providing increased functionality as we expand and take on greater omni-channel retailing challenges."
"The Descartes Route Planner Suite combines planning, execution and comprehensive reporting to provide genuine route optimization with fully-integrated route tracking and execution via mobile devices. For Woolworths, the solution has contributed to a significant improvement in productivity and on-time delivery performance," said Dave Sanders, Managing Director of Bestrane. "The complete solution is also rapid to deploy with Woolworth sites across the country fully operational in less than 5 months."
"We are pleased to help Woolworths transform home delivery into a significant competitive advantage for omni-channel retailing," said Lee Karlinsky, VP of Alliances & Corporate Accounts at Descartes. "As a retail market leader, they are utilising innovative technology to drive differentiated customer service using Descartes' leading-edge home delivery solution."
Posted at 22:56 パーマリンク
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