Descartes Expands Logistics Network With Acquisition Of Majority Interest In Tradevision AB; Descartes Strengthens Network's Air Cargo Messaging Services In Europe.Business Editors WATERLOO, Ontario--(BUSINESS WIRE)--Dec. 21, 2001 The Descartes Systems Group Inc., (Nasdaq:DSGX DSGX Dynamic Sound Generator Xtra (Sony) DSGX Dynamic Sound Generator Extra ), (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DSG DSG Direct Shift Gearbox (Audi) DSG Dosage DSG Deputy Secretary General DSG Dressing DSG Designate DSG Desmoglein DSG Duke Student Government (Duke University) ), the leading provider of network-based logistics management Logistics Management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet technology, announced today that it has acquired a majority interest in Tradevision AB, a European provider of global connectivity and value-added software solutions for transportation logistics. Descartes will connect the Tradevision air cargo air cargo: see aviation. messaging network to the Descartes Global Logistics Services Network - a logistics messaging service with current reach to more than 5000 transportation service providers, manufacturers, distributors and retailers. With access to Tradevision's messaging services, participants of the Descartes Global Logistics Services Network will be able to more rapidly and cost effectively connect to and exchange messages with more logistics partners throughout Europe. This includes access to more air carriers and freight forwarders throughout Scandinavia, Finland, Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. , Germany, Switzerland, the Baltic States Baltic states, the countries of Estonia, Latvia, and Lithuania, bordering on the eastern coast of the Baltic Sea. Formed in 1918, they remained independent republics until their involuntary incorporation in 1940 into the USSR. They regained their independence in Sept. and Poland. "Through our relationship with Tradevision, we have strengthened the presence of the Descartes Global Logistics Services Network in Europe," said Willem Galle, President and COO at Descartes. "As a central logistics messaging hub for Europe, Tradevision will provide European-based companies with more domain expertise and points of presence to access the Descartes Network, helping them gain a time-to-benefit advantage for managing their international logistics The negotiating, planning, and implementation of supporting logistic arrangements between nations, their forces, and agencies. It includes furnishing logistic support (major end items, materiel, and/or services) to, or receiving logistic support from, one or more friendly foreign processes." Descartes acquired the majority interest in Tradevision AB from Nocom AB, an IT company headquartered in Sweden. The acquired shares represent Nocom's entire holdings in Tradevision, or 70 percent of all shares in the company. Descartes also acquired certain indebtedness of Tradevision to Nocom. The transaction was completed this month for approximately USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.54 million. Tradevision becomes a subsidiary of Descartes and continues to operate as an independent company. The investment in Tradevision will not have a material impact in the fourth quarter of fiscal year 2002, and is expected to have a neutral impact on earnings in fiscal year 2003. Descartes will provide guidance for fiscal 2003 in its fourth quarter and year end conference call. About Tradevision Established in 1992, Tradevision specializes in providing electronic services to the cargo industry as well as to individual companies engaged in import and export. Tradevision's main markets are in Scandinavia, Finland, Great Britain, the Baltic States and Poland, but in recent years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time company has also established itself in other countries and continents. Tradevision's head office is located in Stockholm, with branch offices in Copenhagen, London, Warsaw, Helsinki, Oslo, Frankfurt and Riga. For more information, visit www.tradevision.net. About Descartes Established in 1981, The Descartes Systems Group Inc. (Nasdaq:DSGX) (TSE:DSG) is the leading provider of network-based logistics management technology. Known as the trusted provider of logistics solutions, Descartes delivers software and network-based services that drive operational efficiency, customer responsiveness and precision for purchasing logistics services to over 5000 active manufacturers, distributors, retailers, and logistics service providers. Descartes is a global company with international customer support, and offices and resellers located throughout the Americas, EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. (Europe, Middle East and Africa) and Asia-Pacific. For more information, visit www.descartes.com. All registered and unregistered trademarks mentioned in this release are the property of their respective owners. This release contains forward-looking statements that relate to Descartes' product and service functionality and performance, potential benefits derived therefrom, potential benefits derived from acquisitions, statements as to operating profits, the suitability of Descartes' products and services for specific customers, Descartes' customer mix and other matters that may constitute forward-looking statements that involve risks and uncertainties. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. Descartes' actual results may differ from the results discussed in the forward-looking statements as a result of factors including the ability to successfully integrate the two companies and to realize the synergies and other perceived advantages resulting from this acquisition, continued acceptance of the companies' products, capital expenditures and other costs relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the expansion of operations, the introduction of new products or services by the two companies or their competitors, the mix of the services sold and the channels through which those services are sold, pricing changes, general economic conditions and specific economic conditions in the industry and other factors discussed in the section entitled, "Risk Factors" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. and other securities commissions across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET. . THE DESCARTES SYSTEMS GROUP INC. CORPORATE HEADQUARTERS 120 RANDALL DRIVE, WATERLOO, ONTARIO, CANADA, N2V 1C6 TEL: (519) 746-8110 - FAX: (519) 747-0082 E-MAIL: info@descartes.com |
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