The Canadian logistics technology provider Descartes Systems Group is keeping its foot on the accelerator for making acquisitions, announcing today that it has paid $26.7 million to buy Germany’s Portrix Logistics Software, a provider of multimodal rate management solutions for logistics services providers (LSPs).
Hamburg-based Portrix says its Global Price Management (GPM) product allows users to manage global shipment routing, pricing, rating, and capacity allocation. Portrix integrates that software with products like customer relationship management (CRM), transportation management, and customer-facing online booking platforms, such as Descartes’ own Kontainers.
“Automated rate management tools are critical for LSPs looking to digitize the customer experience,” Henning Voss, co-founder of Portrix and now VP Product Management, Rate Management Solutions at Descartes, said in a release. “As the momentum for digitization accelerates, the demand for our solutions continues to grow.”
The acquisition marks the latest move by Ontario-based Descartes to expand its portfolio since it paid $36 million in March to buy QuestaWeb, a firm which provides foreign trade zone (FTZ) and customs compliance solutions.
“The logistics industry is really seeing the benefits that digitization and automation can deliver,” Descartes CEO Edward J. Ryan said in a release. “LSPs that don’t increase their investments in this part of their business risk struggling with higher costs to serve and an inferior customer experience. Our investment in Portrix, combined with our recent investments in Kontainers and QuestaWeb, allows us to offer a truly differentiated end-to-end product for LSPs looking to digitize their operations with a pre-integrated solution.”