CPE Media News – pcJournal (6/25/2018) – Descartes Systems Group (TSX: DSG; NASDAQ: DSGX) has acquired Accucode’s certain assets of Velocity Mail, an electronic transportation network that provides global air carriers with mail and parcel shipment scanning and tracking solutions, for US $25 million.
Centennial, Colorado based Velocity Mail has been connecting commercial airlines and their logistics partners with government postal authorities around the world for more than 15 years.
photo credit: MichaelGaida via pixabay
News Release
Descartes Acquires Velocity Mail
Expands GLN Solution Footprint for Global Air Cargo Community
WATERLOO, Ontario, June 25, 2018 — Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), the global leader in uniting logistics-intensive businesses in commerce, announced that it has acquired certain assets of Velocity Mail, an electronic transportation network that provides global air carriers with mail and parcel shipment scanning and tracking solutions.
Velocity Mail has been connecting commercial airlines and their logistics partners with government postal authorities around the world for more than 15 years. Using Velocity Mail’s network, global air carriers leverage mobile devices to accurately track shipments and deliveries in real-time. Velocity Mail automates the entire shipment process from route generation to accounting reconciliation, simplifying operational processes for the air carriers, ground handlers and postal authorities.
“With more than 60% of cross-border ecommerce transactions shipped using postal providers, the growth of ecommerce has fuelled an increase in the market for Velocity Mail’s solutions,” said Ken Wood, EVP of Product Management at Descartes. “Global air carriers need to have access to timely and reliable information about the movement of mail and parcel shipments to operate efficiently and meet postal authority service level agreements. Velocity Mail’s network operates with similar fundamentals to the Descartes Global Logistics Network (GLN). It helps parties connect and share information, while value-added business applications that are part of the network leverage that information to increase efficiencies and improve decision-making.”
“Global air carriers and their partners are key constituents on our Global Logistics Network,” said Edward J. Ryan, Descartes’ CEO. “By combining Velocity Mail’s solutions with the Descartes Global Air Messaging Gateway, the air carriers will now have one platform to manage the lifecycle of all shipments, both ecommerce focused mail and parcel shipments and larger freight shipments. The combination also strengthens our position in the growing global ecommerce market.”
Velocity Mail is headquartered in Denver, Colorado. Descartes acquired Velocity Mail for $USD 25.5 million in cash, satisfied from Descartes’ existing acquisition line of credit.
About Descartes Systems Group
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com.
Global Media Contact
Mavi Silveira
Tel: +1(800) 419-8495 ext. 202416
msilveira@descartes.com