Descartes Announces Acquisition of CORE Transport Technologies for Air Cargo Support
Descartes Systems Group announced this week its acquisition of New-Zealand headquartered company CORE Transport Technologies for an up-front consideration of $21 million in addition to potential performance-based consideration. CORE’s customers – which include commercial airlines and ground handlers, utilize the company’s network to successfully track international mail, parcel and cargo shipments as well as US domestic mail and parcel shipments.
“As US domestic and international ecommerce continues to grow, more demands are being placed on carriers and their partners to deliver efficiently and report events in real-time,” said Ken Wood, EVP of Product Management at Descartes. “The CORE acquisition complements our recent investment in Velocity Mail, helping us to better serve the logistics service provider community working with postal authorities around the world. CORE’s solutions also extend beyond mail and parcel shipment tracking, with air cargo tracking solutions that we can add to our Global Logistics Network.”
CORE boasts ten years of providing global connections with trading partners and government postal authorities for its customers. By integrating automation and utilizing data analytics, CORE supports operational efficiencies and streamlined operations to support customers.
“We continue to look for opportunities to add customers, solutions and content to our Global Logistics Network to help our customers manage the lifecycle of shipments,” said Edward J. Ryan, Descartes’ CEO. “By combining with CORE, we’re strengthening our position in the growing domestic and global ecommerce market. We’re also adding new solutions to our Descartes Global Air Messaging Gateway that we believe will present a compelling opportunity for our global air cargo community to enhance real-time tracking and visibility of air shipments.”