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Canadian firm buys Customs Info for $41 million

Published June 2, 2014 9:33 am
This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Customs Info, an Eden-based company that supplies trade-data information to firms about transactions going on worldwide, has been sold for $41.5 million to Descartes Systems Group.

Descartes, a Canadian company that provides technology used by logistics-intensive businesses to streamline automated global-trade management, said Monday it bought Customs Info for $36 million in cash plus stock in Descartes, which trades on the Nasdaq exchange as DSGX.

More than 800 multinational shippers receive comprehensive trade data from Customs Info to help them reduce operating costs, improve customs compliance and accelerate supply-chain speed, said Descartes spokeswoman Mavi Silveira.

Customs Info also helps customers build and maintain classification databases for their worldwide operations.

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