Purchase price around 22 million euros
Portrix Logistics Software becomes part of the Descartes Systems Group
Descartes Systems Group announced on May 10 the acquisition of Portrix Logistic Software (PLS), a provider of multimodal rate management solutions for logistics service providers (LSPs).
Headquartered in Hamburg, the company has been helping its customers, which include some of the world's largest logistics service providers, to streamline and automate complex processes in global freight rate management for more than ten years. The company's core product, Global Price Management (GPM), is used by customers for global routing, pricing, pricing and capacity planning. PLS' solutions integrate with mission-critical systems that require fast, accurate and complete shipping and pricing options, including transportation management systems, CRMs and customer-facing online booking platforms such as Descartes Kontainers.
"Automated rate management tools are critical for LSPs looking to digitize the customer experience," says Henning Voss, co-founder of PLS and now VP Product Management, Rate Management Solutions at Descartes. "As the momentum of digitalization increases, the demand for our solutions continues to grow. In particular, we have seen an increasing demand for an integrated Descartes Kontainers PLS solution, so the decision to join forces with Descartes was a logical next step for our company and our customers. We look forward to taking our existing partnership with Descartes to the next level."
"The logistics industry is realizing the benefits that digitalization and automation can bring," said Edward J. Ryan, CEO of Descartes. "LSPs that don't increase their investment in this part of their business risk struggling with higher service costs and a poorer customer experience. Our investment in PLS, 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. Our 'best of breed' rate management and online booking products can also help customers who want to improve their operations while preserving investment in their existing back office systems."
PLS is headquartered in Hamburg. Descartes acquired PLS for around EUR 22 million (approx. USD 26.7 million), which was paid from cash on hand.
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