Descartes Systems buys Ohio-based MacroPoint truck-tracking business
The corporate logo for Descartes Systems Group. (THE CANADIAN PRESS)
The Canadian Press
Published Tuesday, August 15, 2017 11:40AM EDT
WATERLOO, Ont. - Descartes Systems Group (TSX:DSG) has acquired an Ohio-based company that provides location-based truck tracking in a deal valued at US$107 million.
Cleveland-based MacroPoint LLC uses on-board electronic logging devices, smartphones and other technology to track vehicles and identify opportunities for additional freight moves.
It complements Descartes online logistics services that clients use to route, schedule, track and measure resources around the world.
Based in Waterloo, Ont., Descartes paid US$87 million in cash and shares worth US$20 million to acquire MacroPoint.