Ecommerce Company Descartes Acquires STEPcom

Descartes (TSX:DSG), ecommerce software-as-a-service company announced that it has acquired STEPcom a supply chain company with over 15 years in operation. Headquartered in Switzerland, STEPcom was acquired for US$19.6 million in cash.

As quoted in the press release:

STEPcom has connected trading partners to its B2B network for more than 15 years, helping supply chain participants connect, collaborate and seamlessly exchange electronic data. A community of more than 600 customers leverage the STEPcom suite of solutions to automate supply chain processes and streamline a wide array of complex, mission-critical documents found in typical procure-to-pay and order-to-cash processes. STEPcom also operates a GS1-certified, industry-independent data content pool where suppliers can share product master data with customers all around the world.

“The supply chain landscape continues to evolve as an increasing number of industries are pushing for more and more electronic data from their trading partners, putting pressure on supply chain participants to manage a dynamic set of connections with often-changing trading partners” said Fred van der Heide, VP of Product Strategy at Descartes. “STEPcom’s network, much like Descartes’ Global Logistics Network, helps isolate customers from the complexities of different protocols, semantics and end-user requirements for managing and transmitting electronic supply chain data and documents.”

Click here to read the full press release.