OTTAWA (dpa-AFX) - Tuesday, The Descartes Systems Group Inc. (DSGX) announced the acquisition of Extensiv, a provider of warehouse management and fulfillment solutions for third-party logistics providers, for approximately $120 million.
The transaction, funded through cash on hand, is expected to expand Descartes' warehouse and inventory management capabilities while deepening its reach into the third-party logistics providers and e-commerce fulfillment market.
'The combination of Extensiv with Descartes' transportation, connectivity, visibility, trade intelligence, customs compliance, and last mile delivery solutions, enables logistics service providers to expand their offerings and scale operations with a single technology provider versus a patchwork of vendors,' said Scott Sangster, GM, Logistics Services Providers at Descartes.
In pre-market hours, DSGX was trading at $80.10, down 0.67 percent on the Nasdaq.
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