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Kontainers, a digital freight platform, has been bought by Descartes Systems Group for $12m.
The deal includes up-front cash of $6m – based on satisfying revenue targets in the next two years – plus potential performance-based additions. Any earn-out will be payable in fiscal 2022 and 2023.
UK-based Kontainers’ platform offers quoting, booking, tracking and dashboard analytics, and also helps enable API for logistics service providers with rate management and back-office systems.
“We’ve worked very hard with some of the world’s top logistics companies to create an optimal digital customer experience,” said Graham Parker, co-founder of Kontainers and now vice president sales digital freight solutions at Descartes.
“Combining with Descartes will give us the opportunity to reach a broader audience much more quickly.
“When added to the Global Logistics Network, we’ll also have the ability to offer a pre-integrated solution that combines Kontainers’ digital freight execution with Descartes’ rate management and forwarder enterprise systems.”
Chief executive of Descartes Edward Ryan said: “The past few months have shown how quickly the world can change, and the shift to digitisation is accelerating as a result.
“Logistics services providers operate on tight margins. Those that don’t move quickly to digitise their customer experience will be faced with higher costs to serve. We’re looking forward to working with Kontainers’ customers, partners and team of domain experts to help the logistics community capitalise on this opportunity.”
Loadstar Premium, which exclusively broke the story earlier today, noted that “while major M&A may be frozen until Q3 20 at the earliest … the bankers’ bread-and-butter deals keep getting done behind the scenes”.