Descartes buys Scancode

Waterloo-headquartered Descartes Systems Descartes-cropped.jpgGroup, a provider of logistics solutions, acquires privately-held Scancode Systems Inc. for approximately $8.5 million in cash. Toronto-based Scancode, a developer and integrator of shipping solutions, has approximately 50 personnel. “Our focus is to bring together importers, exporters, customs brokers, transportation carriers, logistics intermediaries and regulatory and customs agencies around the world in a shared-services environment using standardized business processes,” says Art Mesher, CEO of Descarte. “The acquisition of Scancode adds another dimension of services to the Descartes GLN and broadens the community of shippers and logistics service providers, enhancing the productivity and performance for all.” Descartes recently released its numbers four Q4, posting revenues of $15.7 million, down marginally from the fourth quarter last year. Income before taxes of $2.6 million was up 30% from the fourth quarter of 2008. For the fiscal year ending January 31st 2009, revenue was $66.0 million, up $7.0 million or 12% from the fiscal year ended January 31 2008. Income before taxes was $9.0 million, up 32% from fiscal year 2008.

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