Descartes acquires logistics trade data provider for $52.7 million
Datamyne collects import and export trade activity data from 50 nations.
Logistics technology provider Descartes Systems Group has continued its string of acquisitions by buying Datamyne Inc., an international trade data provider, the companies announced Dec. 23.
Waterloo, Ont.-based Descartes paid $52.7 million for Datamyne, which provides cloud-based, trade data content solutions for customers to analyze import and export trade activity.
Descartes plans to add those capabilities to the suite of supply chain visibility tools it calls the "global logistics network," a collaborative web of logistics firms that pool their standards to facilitate global shipping and compliance through digital data exchange.
The acquisition is the latest in a flurry of purchases for Descartes. Earlier this year, it acquired supply chain software provider Appterra and order fulfillment software vendor Pixi Software GmbH, and three other logistics software firms in 2015.
"Datamyne broadens our trade data content footprint beyond customs and regulatory data and into logistics trade data," Descartes' CEO Edward J Ryan said in a release.
Miami-based Datamyne, primarily operating in the U.S. and South America, collects, cleanses, and commercializes logistics trade data from over 50 nations across five continents, including markets in North America, Latin America, Asia, Africa, and the European Union, the company says.
The company gathers more than 100 million records each year from official filings with customs authorities and trade ministries. Subscribers use Datamyne's web-based solutions and business intelligence tools to augment, speed up, and simplify trade data research, and to shape global marketing, prospecting, and sourcing strategies.
"Many Datamyne customers who use our solutions to make informed decisions about sourcing and shipping activity also use Descartes' Global Logistics Network to manage and execute the resulting shipments," Brendan McCahill, CEO of Datamyne and now SVP of Trade Data Content solutions at Descartes, said in the release.
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