Jonathan S. Reiskin |
Two major technological vendors to trucking have joined forces with the Aug. 15 announcement that Descartes Systems Group has acquired MacroPoint for $107 million in cash and stock.
Descartes, of Waterloo, Ontario, is a software provider whose systems are used for routing, scheduling and tracking, as well as auditing and paying invoices.
Cleveland-based MacroPoint connects fleets and owner-operators with brokers and shippers, mainly through smartphone applications, and has annual revenue of about $12.5 million.
“MacroPoint is the market leader for truckload shipment visibility,” MacroPoint CEO Bennett Adelson said. “We believe that the combination of Descartes’ Global Logistics Network with our cloud-based, real-time load visibility platform creates a truly differentiated offering that helps customers research, plan, execute and monitor multimodal shipments around the world.”
“We’re excited to have MacroPoint join the Global Logistics Network so that we can jointly deliver even more value to the logistics and supply chain community,” Descartes CEO Edward Ryan said in the same statement.
Although based in Canada, Descartes priced the deal in U.S. dollars. Of the $107 million purchase price, $87 million is in cash and $20 million in Descartes stock.
Besides using cash on hand, Descartes said it has a line of credit for acquisitions.