Descartes Extends Its B2B Product Offering With Acquisition Of E-Transport.Business Editors WATERLOO, Ontario--(BUSINESS WIRE)--Feb. 24, 2000 (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) ) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DSGX DSGX Dynamic Sound Generator Xtra (Sony) DSGX Dynamic Sound Generator Extra ) Acquisition of Global Leader in MultiModal Two or more modes of operation. The term is used to refer to a myriad of functions and conditions in which two or more different methods, processes or forms of delivery are used. On the Web, it refers to asking for something one way and receiving the answer another; for example requesting Transportation Exchange Software Creates Dominant Force in End-to-End B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business Logistics The Descartes Systems Group, Inc. (NASDAQ:DSGX) (TSE:DSG), today announced that it has signed a definitive agreement to acquire privately-held E-Transport, Incorporated, of Pittsburgh, PA., a leading provider of hosted software and logistics exchange solutions for the multimodal transportation market. The acquisition will enhance Descartes' leadership position in e-fulfillment by providing new hosted transportation software and exchange solutions that encompass the critical areas of business-to-business (B2B) e-commerce logistics. The acquisition will further expand the reach of Descartes' Global Logistics Network, creating what the company believes is the largest Internet logistics network in the world and providing Descartes' customers with automatic access to an Internet trading community. Upon completion of this acquisition, Descartes will be uniquely positioned to accelerate the adoption of B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. logistics, create market efficiencies and enable global economies of scale between thousands of shippers, receivers, carriers, freight forwarders An individual who, as a regular business, assembles and combines small shipments into one lot and takes the responsibility for the transportation of such property from the place of receipt to the place of destination. , third-party logistics A third-party logistics provider (abbreviated 3PL) is a firm that provides outsourced or "third party" logistics services to companies for part, or sometimes all of their supply chain management function. providers, e-marketplaces, vertical portals A Web site that provides news, articles and services to a particular industry such as IT, finance and retail. It is the industry-specific equivalent of the general-purpose portal on the Web. Also called a "vortal." See portal, corporate portal, business intelligence portal and Web hub. and transportation exchanges. Descartes will issue stock worth approximately US $80,000,000 to the shareholders of E-Transport based on Descartes' closing stock price in the period leading up to the execution of the definitive agreement. The acquisition is expected to close in the first quarter of 2000 and will be accounted for as a purchase. Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. has served as financial advisors to Descartes in connection with this transaction. Leading the B2B E-Commerce Logistics Revolution The combination of Descartes' DeliveryNet e-fulfillment connectivity, visibility and real-time optimization software Free and Open Source software
"We are very excited about the E-Transport B2B logistics exchange capabilities and the strong web of relationships with the majority of the suppliers in the multimodal transportation industry," said Peter Schwartz, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Descartes. "With E-Transport and our growing logistics network, Descartes will be clearly positioned to lead the e-business logistics revolution and accelerate the mainstream adoption of B2B e-fulfillment solutions." "E-Transport is focused on changing the way the 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 community fulfills its customer commitments by providing software services that enable paperless transactions in all modes of transportation," said Robert M. Ryan, CEO of E-Transport. "To provide the end-to-end logistics solution to our current and future customers, it was clear that we needed to join with a company that offers e-fulfillment leadership, leading-edge web-based technologies, real-time logistics optimization expertise and a growing, robust network of multimodal logistics members. The vision, solution and business model fits between E-Transport and Descartes will create a powerful industry force in B2B e-fulfillment." "This acquisition is a landmark event for the e-fulfillment marketplace, as it creates a truly global, multimodal e-fulfillment software solutions provider," said Gilles Serpry, Director of Cap Gemini's global Supply Networks Center of Excellence. "The combined forces A military force composed of elements of two or more allied nations. See also force(s). of Descartes and E-Transport will give shippers, carriers, logistics service providers and new market aggregators access to world-class transaction, optimization and visibility technology to radically improve fulfillment operations in today's high-speed Internet See broadband. economy. This announcement clearly confirms to Cap Gemini the role that Descartes is positioned to play as an e-fulfillment strategic partner." Descartes will Expand Its Market Share Leadership for B2B Logistics Solutions Through its acquisition of E-Transport, Descartes will hasten the execution of its strategy to bring logistics exchange capability and hosted e-fulfillment software solutions to the global logistics marketplace. Through Descartes' and E-Transport's hosted software services, Descartes will be able to provide transaction-based value along multiple points in the global supply chain, creating revenues for Descartes that will scale with B2B transactions. These Web-based hosted logistics solutions enable customers to seamlessly manage the entire logistics process in real-time and optimize transportation activities across complex fulfillment networks. Exchanges and other Net aggregators will be able to use these hosted solutions to rapidly create private, semiprivate sem·i·pri·vate adj. Shared with usually one to three other hospital patients: a semiprivate room. Adj. 1. and public marketplaces. E-Transport has a blue chip customer base which includes global leaders in transportation such as Maersk Sea-Land, Hanjin Shipping Hanjin Shipping Co., Ltd. is a global shipping company based in South Korea. It is a subsidiary of the Hanjin Group. Hanjin Shipping's subsidiaries include Hanjin Logistics, Keoyang Shipping, Senator Lines, and CyberLogitec. Company Limited, Hyundai Merchant Marine Hyundai Merchant Marine is a South Korean logistics company providing worldwide container shipping services. It was established in 1976 as Asia Merchant Marine. It became Hyundai Merchant Marine, a part of the Hyundai Group, in 1982. and P&O Nedloyd. E-Transport's pricing database is used by over 80% of the largest global ocean carriers and provides hosted software solutions to more than 1,000 shippers, carriers, logistics service providers and other intermediaries. These hosted offerings include: * Logistics contracts exchange. Automates the complex negotiation and price management of international transportation, a situation that has escalated because of the 1999 U.S. Ocean Shipping Reform Act. Allows cross-enterprise collaboration in creation of transportation service contracts. * Industry-standard, vendor-neutral rate clearinghouse. Used by shippers, carriers and aggregators to rapidly calculate total bottom-line ocean freight costs. For example, 16 of the top 20 ocean carriers in the world use E-Transport's hosted rate management software solution to offer rating services on their websites to their customers. * Real-time activity monitoring and notification with performance reporting. Provides visibility throughout the transportation supply chain. Enables real-time problem identification and better tracking and management of fulfillment operations. * Cross-enterprise workflow tools for international freight documentation and processes. Seamlessly integrates shipment information across enterprises and complements existing enterprise computing systems. Reduces shippers' logistics transaction processing costs by up to $100 per transaction. E-Transport's offerings, extensive expertise, and position in the industrial transportation market will greatly benefit the combined organization. Through this acquisition, Descartes will aggressively build on these talents and seek to expand market share. Creation of the World's Largest Global Logistics Network The Descartes Global Logistics Network, where shippers and carriers share a common collaborative logistics infrastructure, will be enhanced by E-Transport's global freight network. The Descartes Global Logistics Network provides shippers, carriers, logistics service providers, e-marketplaces, vertical portals and transportation exchanges with an open, scalable, single point of connection to one another via the public Internet, virtual private networks and wide area networks. Once connected, a participant can conduct paperless business transactions with all other network members without having to master and manage individual data translations and integration points. The Descartes Global Logistics Network is designed to create network effects and global economies of scale for all participants. It provides a common platform for Descartes and its logistics service provider, portal and exchange partners to deliver a choice of B2B e-fulfillment and exchange services. These services include real-time visibility of orders, dynamic route optimization, real-time transportation sourcing, merge in transit, rating, contract management and delivery personalization Custom tailoring information to the individual. On the Web, personalization means returning a page that has been customized for the user, taking into consideration that person's habits and preferences. and yield management. The Descartes Global Logistics Network serves a global transportation market with transportation expenditure across all modes in excess of US$1 trillion. About Descartes Descartes is a leading provider of end-to-end logistics solutions that facilitate B2B e-commerce. Descartes' e-fulfillment software and exchange solutions enable companies to create high-speed, high-performance fulfillment networks - aka DeliveryNets(. DeliveryNet solutions empower organizations to deliver reliable, responsive customer service in a profitable manner and to create innovative new products and services. DeliveryNet solutions leverage Descartes' Internet-based Global Logistics Network to integrate the internal and external logistics and fulfillment processes of shippers, receivers, carriers, logistics service providers, e-marketplaces, vertical portals and transportation exchanges. The result is a global e-fulfillment information infrastructure that provides cost saving and revenue opportunities for businesses that need to manage physical product movement. Descartes products are used today by more than 850 companies in 35 vertical industries and 50 countries worldwide. For more information about Descartes, visit www.descartes.com About E-Transport E-Transport, Incorporated is a global leader in developing B2B e-commerce software solutions for the multimodal transportation industry. E-Transport's software solutions include transportation exchange solutions and Web-based applications for negotiating contracts and checking rates. E-Transport has relationships with the majority of the world's largest cargo carriers and suppliers. Currently, E-Transport's pricing database is used by over 80% of global ocean cargo carriers. E-Transport has offices in Cranford, New Jersey Cranford is a township in Union County, New Jersey, United States. As of the United States 2000 Census, the township population was 22,578. Cranford Township folds from the banks of the meandering Rahway pond and has been dubbed the "Venice of New Jersey". , and Miami, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Shanghai, and London. The company is headquartered in Pittsburgh, Pennsylvania “Pittsburgh” redirects here. For the region, see Pittsburgh Metropolitan Area. Pittsburgh (pronounced IPA: /ˈpɪtsbɚg/) is the second largest city in the Commonwealth of Pennsylvania. . For more information about E-Transport, visit www.etransport.com All registered and unregistered trademarks mentioned in this release are the property of their respective owners. This release contains statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc acquisitions, market and customer dynamics, future operating strategy, revenue growth, and other matters that constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. The Company's actual results may differ from the results discussed in the forward-looking statements. Factors that may cause such a difference include, but are not limited to: risks associated with uncertainty and unanticipated delays in closing customer orders; uncertainty associated with the shift from enterprise applications to e-business markets; competition or consolidation within the industry; management of growth; the Company's dependence on certain industries, markets and clients; the Company's dependence on key personnel, proprietary technology and a limited number of products; acquisitions; software defects; the ability to enhance current products and to introduce new products in a timely fashion at competitive prices; third party claims of infringement; reliance on third party licenses; limited profitability; lengthy sales and implementation cycles and increasing size of orders; and the potential volatility of share prices; potential fluctuations in quarterly results; the need to enhance management systems; currency risk; and international sales; 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. . |
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