Descartes Completes Acquisition of Integrated Export Systems Business

Descartes Systems Group DSGX announced Friday the closing of its acquisition of substantially all of the assets of Integrated Export Systems, Ltd. and IES Asia Limited. Previously, on June 13, 2012, Descartes announced the signing of the definitive agreement to acquire these assets from IES, subject to fulfilment of typical closing conditions. The all cash purchase price for the acquisition of the IES business was $35.0 million, with Descartes acquiring approximately $0.8 million in working capital.