Waterloo-based SaaS company Descartes Systems Group has completed its acquisition of Supply Vision in a deal valued at $16 million CAD ($12 million USD).

Descartes announced its purchase of Supply Vision last week as the former looks to expand its offerings for logistics service providers (LSPs) through an active acquisition strategy.

Descartes’ stock price has climbed 2.8 percent in the past year, currently trading at $94 CAD.

Founded in 1981, Descartes offers a suite of tech-enabled solutions for logistics and supply chains. Its SaaS and data products allow users to monitor and manage numerous processes in logistics such as delivery resources, invoices, documentation, and shipments. The Waterloo company began trading on the Toronto Stock Exchange in 1998.

According to Descartes, its primary focus is serving transportation providers, LSPs, and distribution-intensive companies. Some of its clients include 3M, Air Canada, Canon, CVS/Pharmacy, Emirates, The Home Depot, and the United Parcel Service among others.

A core component of Descartes’ growth is through its active acquisition strategy, which largely involves deals with other organizations in the freight and transportation, as well supply chain management industries.

Supply Vision, which is headquartered in Phoenix, Arizona, provides modular applications that support LSPs in coordinating shipments, from quoting to final delivery. Its platform integrates with real-time visibility solutions, such as Descartes’ Macropoint, a Descartes product that came from Macropoint’s acquisition in 2017.

RELATED: Descartes Systems Group acquires PinPoint for $15 million

As it integrates with Supply Vision, Descartes looks to bolster its offering with Supply Visions’ capabilities in shipment lifecycle management.

Descartes also completed a string of acquisitions in 2022, including NetCHB ($38.7 million USD), Foxtrot ($4.2 million USD), and XPS Technologies ($61.1 million USD).

Going against the trend of declining valuation among Canadian tech companies, Descartes’ stock price has climbed 2.8 percent in the past year, currently trading at $94 CAD at the time of publication. It was trading at $91 CAD in January 2022.

The post Descartes Systems Group acquires shipment management SaaS provider Supply Vision for $16 million CAD first appeared on BetaKit.

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