Software firm acquired by Canadian company in £10.25m deal
Wed, 19 Jun 2024 | BUSINESS SALE
BoxTop Technologies, a Windsor-headquartered software company, has been acquired by Canadian firm Descartes Systems Group in a deal worth £10.25 million. BoxTop, an existing Descartes partner, helps language service providers to digitise operations and connect them to the wider logistics sector in order to manage the lifecycle of shipments.
The company has worked with the Ontario-based group for several years, leveraging the Descartes Global Logistics Network (GLN) to provide clients with visibility on shipments across a variety of modes of transportation and to complete electronic customs filings.
Descartes provides on-demand, software-as-a-service (SaaS) solutions focused on improving the productivity, security, and sustainability of logistics-intensive businesses. Its solutions are used by customers to route and track deliveries, as well as to improve the performance, compliance and safety of delivery resources.
It also enables customers to plan, allocate and execute shipments, access global trade data, rate, audit and pay transportation invoices and file customs and security documents for exports and imports, among other services.
Scott Sangster, General Manager of Logistics Services Providers at Descartes, said that the deal was “a logical step” in the group’s long-running partnership with BoxTop.
He continued: "BoxTop has an excellent solution for small- to mid-sized LSPs and we see an opportunity to integrate it with more solutions on the GLN. This will help us deliver more value to BoxTop customers and expand the geographic footprint into more countries in Europe."
Descartes Chief Executive Edward J. Ryan added: "LSPs will continue to play a vital role in trade in the global economy.”
"As LSPs continue to digitise their operations, we want to make sure that small- to mid-size LSPs have access to the same breadth of solutions to manage the lifecycle of shipments in a secure and efficient manner. The acquisition of BoxTop puts us in a better position to deliver even more value to this community."
Adding new software capabilities has been a key trend driving logistics M&A
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