Descartes Systems Group DSG DSGX has acquired XPS Technologies, a provider of e-commerce multi-carrier parcel shipping solutions, for ~$65 million in cash.
The maximum amount payable under the all-cash performance-based earn-out is $75 million if XPS meets revenue-based benchmarks in the first two years.
XPS provides its cloud-based multi-carrier parcel shipping solutions directly to small-, medium- and large-sized e-commerce shippers. It also provides a white-label shipping platform to logistics services providers.
“XPS complements our significant recent investments in the ecommerce fulfilment and shipping space,” said Edward J. Ryan, Descartes’ CEO.
As of April 30, 2022, Descartes held $211.8 million in cash.
Price Action: DSG shares are trading higher by 1.24% at C$80.13 on TSX, and DSGX is higher by 1.72% at $63.95 on NASDAQ on the last check Monday.
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