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Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), Waterloo, Ontario, has acquired KSD Software Norway AS, a Scandinavia-based provider of electronic customs filing solutions for the European Union.
The EU customs compliance market is characterized by a complex framework of member states, each with different regulations, languages and systems. Transportation carriers, logistics intermediaries and shippers have looked to technology partners like Descartes and KSD to help manage this complexity.
“EU customs compliance is complex,” said Svenn Widerberg, CEO of KSD. “Our focus is to make the process easier for customers so that they can instead focus on their core businesses.”
KSD brings more than 1,300 customers to Descartes’ Global Logistic Network, with the majority of these companies based in Scandinavia. KSD provides its customers with customs declaration, security filing, transportation management and freight forwarding technology solutions.
“With approximately $10 million of annual recurring revenues that are core to our combined businesses, KSD adds scale for Descartes to serve the wider logistics community,” said Edward Ryan, chief commercial officer at Descartes.
KSD is headquartered in Oslo, Norway, with offices in Sweden, Denmark and The Netherlands. The purchase price for the acquisition was NOK 190 million (USD$33 million).