Descartes Acquires Scandinavia-Based KSD Software
KSD is headquartered in Oslo, Norway, with offices in Sweden, Denmark and The Netherlands. The all cash purchase price for the acquisition was NOK 190 million (approximately USD $33 million at May 2, 2013), with Descartes acquiring approximately NOK 11.5 million in working capital (approximately USD $2 million at May 2, 2013). To complete the acquisition, Descartes used approximately USD $13 million of cash on hand and $20 million from an acquisition line of credit.
Descartes will discuss the transaction, along with its fiscal 2014 first quarter financial results, in a conference call scheduled for Thursday, May 30, at 8 am ET. Designated numbers for the call are +1 (855) 410-0553 for North America or +1 (646) 583-7389 for international, using Participant PIN Code 372668#.
KSD is a leading Scandinavia-based provider of electronic customs filing solutions for countries in the EU, as well as Switzerland, Norway, Israel, US and Canada. In addition to customs handling, KSD provides software for security filing (ICS), transport management and forwarding systems. KSD started developing software in 1995 and the solutions support companies in accomplishing efficiency improvements within their internal and external supply chain. KSD is headquartered in Oslo, Norway, has 8 offices located in Scandinavia and BeNeLux.For more information about KSD, visit www.ksdsoftware.com/en/ About Descartes Descartes (TSX:DSG) (Nasdaq:DSGX) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Descartes has over 146,000 parties using its cloud based services. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multi-modal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com .
CONTACT: Global Media Contact Mavi Silveira +1(800) 419-8495 ext. 202416 email@example.com
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