Clearwater International has advised the shareholders of Exentra Transport Solutions Limited, on its sale to Descartes Systems Group (TSX:DSG) ( Nasdaq:DSGX). The acquisition was valued at £10.7 million with Descartes acquiring approximately £200,000 in working capital. Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), the global leader in uniting logistics-intensive businesses in commerce, acquired Exentra Transport Solutions Limited, a leading UK-based provider of software-as-a-service (SaaS) driver compliance solutions for the EU. It’s provision of the compliance management platform; Smartanalysis helps customers to obtain and check data from their vehicles required tachograph to ensure compliance with EU driver legislation. Headquartered in Chippenham, it works with some of the UK’s leading transportation companies.
“The EU driver compliance legislation has been in place longer than comparable regulations in North America. In the EU, not only is every vehicle required to have tachograph hardware, but the hardware is standardized and fitted during vehicle production. Our experience strengthens Descartes’ Routing, Mobile and Telematics suite to address the US regulatory environment, while our combined solutions also have an immediate impact on the quality and safety of route planning for our collective UK customers.”
“I am delighted to see Exentra become part of the Descartes group. There is an excellent fit in terms of strategy and culture between the two businesses, with clear opportunities for the Exentra platform to be rolled out across Europe and North America as well as for Exentra in the UK to offer the full suite of Descartes products to its existing customers. Exentra is the UK leader in a niche SaaS market driven by increasing EU regulation and technology advances. Exentra has enjoyed strong organic profit growth and we are confident that the deal represents the best option for the shareholders, staff and clients of Exentra, who will benefit from additional products and services.”