M&A Deal Summary

The Descartes Systems Group Acquires OCR

On March 28, 2024, The Descartes Systems Group acquired internet software and services company OCR for 90M USD

Acquisition Highlights
  • This is The Descartes Systems Group’s 18th transaction in the Internet Software and Services sector.
  • This is The Descartes Systems Group’s 4th largest (disclosed) transaction.
  • This is The Descartes Systems Group’s 28th transaction in the United States.
  • This is The Descartes Systems Group’s 3rd transaction in Maryland.

M&A Deal Summary
Date 2024-03-28
Target OCR
Sector Internet Software and Services
Buyer(s) The Descartes Systems Group
Deal Type Add-on Acquisition
Deal Value 90M USD

Target

OCR

Rockville, Maryland, United States
OCR specializes in solutions and content for export compliance and controlled commodities, helping customers streamline and automate processes around denied party screening, license procurement/management, and product classification. Their core platform, GlobalEASE, is used by blue-chip, multinational organizations around the world to stay current in a rapidly changing regulatory environment. OCR is based in Rockville, Maryland.

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Buyer(S) 1

Buyer

The Descartes Systems Group

Waterloo, Ontario, Canada
Category Company
Founded 1981
Sector Software
Employees1,334
Revenue 486M USD (2023)
DESCRIPTION

The Descartes Systems Group is a provider of on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. The Descartes Systems Group was founded in 1981 and is based in Waterloo, Canada.

DEAL STATS #
Overall 50 of 54
Sector (Internet Software and Services) 18 of 18
Type (Add-on Acquisition) 50 of 54
State (Maryland) 3 of 3
Country (United States) 28 of 30
Year (2024) 1 of 5
Size (of disclosed) 4 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-20 Localz

Melbourne, Australia

Localz is a technology platform that combines real-time vehicle location tracking and communications to deliver safe, transparent, customer-centric SaaS solutions that transform the customer delivery experience. End customers can schedule services and deliveries through an online portal, and then follow the progress of their order in real time with advanced notifications built in. Localz is based in Melbourne, Australia.

Buy $6M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-22 ASD

Dublin, Ireland

ASD provides customs declaration software solutions for logistics services providers (“LSPs”) and shippers, as well as RFID solutions that help the air logistics community track assets. The company’s customs filing solutions, operating under the brand Thyme-IT, help importers, exporters, and LSPs comply with Irish regulatory requirements for imports and exports in a secure and efficient manner. ASD was founded in 1996 and is based in Dublin, Ireland.

Buy $61M
Mergr

Product

Company

Legal