Descartes Systems Group (DSGX) to Acquire Datamyne for $52.7M
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Descartes Systems Group (Nasdaq: DSGX) has acquired Datamyne, a leading provider of cloud-based trade data content solutions for customers to analyze import and export trade activity.
Datamyne, primarily operating in the U.S. and South America, collects, cleanses and commercializes logistics trade data from over 50 nations across 5 continents, including key markets in North America, Latin America, Asia, Africa, and the European Union. More than 100 million records are gathered each year from official filings with customs authorities and trade ministries. Subscribers use Datamyne’s web‐based solutions and business intelligence tools to augment, speed up and simplify trade data research, and to shape global marketing, prospecting, and sourcing strategies.
“Datamyne is the market leader for logistics trade data with extensive geographic coverage, deep content domain expertise, and proven applications that provide a powerful and intuitive user experience,” said Brendan McCahill, CEO of Datamyne and now SVP of Trade Data Content solutions at Descartes. “Many Datamyne customers who use our solutions to make informed decisions about sourcing and shipping activity also use Descartes’ Global Logistics Network to manage and execute the resulting shipments. Datamyne and Descartes are a natural combination that can bring positive benefits to our respective customers, and creates a truly differentiated offering in the market.”
Descartes’ GLN, complemented by Datamyne’s content and solutions, is the logical place for multi-national shippers, logistics intermediaries and transportation carriers to manage the complete life-cycle of a shipment, including:
- Researching and making informed decisions about potential trading and logistics partners;
- Classifying goods appropriately and submitting compliant documentation; and
- Moving goods efficiently and securely while collaborating with a broad ecosystem of parties.
Nearly 3,000 Datamyne customers will now join the world's largest, collaborative multimodal logistics community and have access to a wider set of solutions via Descartes’ Global Logistics Network.
“Datamyne broadens our trade data content footprint beyond customs and regulatory data and into logistics trade data,” said Edward J Ryan, Descartes’ CEO. “This enables Descartes’ customers to make even better decisions using the Global Logistics Network, and gives Datamyne customers access to the leading platform for shipment execution.”
Datamyne is headquartered in Miami, FL and has offices in Uruguay, Argentina and Brazil. Datamyne is a portfolio company of Nassau Point Investors LLC, a private equity firm based in Greenwich, CT. The purchase price for the acquisition was approximately US $52.7 million in cash.
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