Descartes Systems Group (DSGX) Announces Acquisition of QuestaWeb
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Descartes Systems Group (NASDAQ: DSGX), the global leader in uniting logistics-intensive businesses in commerce, announced that it has acquired QuestaWeb, a leading provider of foreign trade zone (FTZ) and customs compliance solutions.
Headquartered in the US, QuestaWeb provides cloud-based customs and regulatory compliance solutions. QuestaWeb’s market leading FTZ solution allows logistics services providers (LSPs) and importers to automate processes and comply with US Customs and Border Protection (CBP) regulatory requirements for operating a foreign trade zone in the US. The FTZ solution can be operated as a standalone module or as part of the company’s wider platform that helps importers and LSPs manage the lifecycle of shipments.
“In today’s complex and dynamic regulatory environment, technology is crucial to ensure that supply chains are compliant and efficient at each step along the way,” said Ken Wood, EVP Product Management at Descartes. “The addition of QuestaWeb’s FTZ solution brings an important capability to our Global Logistics Network and will help our customers manage the entire foreign trade zone process, allowing them to minimize duties, fees and taxes while remaining compliant with CBP regulations. We’re also looking forward to integrating QuestaWeb’s solutions with our forwarder and customs broker back-office platform, helping LSPs accelerate their digital transformation with innovative capabilities such as the Descartes Kontainers online booking tool.”
“Descartes continues to invest in complementary solutions that will help our customers manage the complete lifecycle of shipments,” said Edward J Ryan, Descartes’ CEO. “We’re looking forward to working with the QuestaWeb customers, partners and team of domain experts to continue to help the logistics community navigate the complexities of the global trade landscape in an efficient, secure and compliant way.”
QuestaWeb is headquartered in Clarke, New Jersey. Descartes acquired QuestaWeb for approximately $US 36 million, satisfied from cash on hand.
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