Descartes Systems buys Aerospace Software Developments

By The Canadian Press on April 22, 2024.

Descartes Systems Group logo is shown in a handout. The company has signed an agreement to buy Aerospace Software Developments in a deal worth about $83 million. THE CANADIAN PRESS/HO

TORONTO – Descartes Systems Group said it has acquired Aerospace Software Developments in a deal worth about $83 million.

Under the transaction, Descartes will pay a total of about 57 million euros for the Dublin-based company.

ASD provides customs declaration software for logistics services providers and shippers.

The company also sells systems that help airlines track assets.

Descartes says the acquisition of ASD is highly complementary to its current product offerings.

Based in Waterloo, Ont., Descartes provides software for logistics-intensive businesses.

This report by The Canadian Press was first published April 22, 2024.

Companies in this story: (TSX:DSG)