Descartes Expands Last-Mile Logistics with $30M Acquisition of Drivin
DSGX sits 16% above its 52-week low of $62.555.
Summary
Descartes Systems Group has acquired Drivin, a Latin American provider of last-mile delivery management solutions, for an upfront cash consideration of $30 million, with a potential earn-out of up to $5 million. This acquisition expands Descartes' AI-powered last-mile logistics capabilities and strengthens its presence in the Latin American market. It follows a previous acquisition of Idelic in April, indicating a continued strategy of inorganic growth to enhance its Global Logistics Network.
At the time of this announcement, DSGX was trading at $72.79 on NASDAQ in the Technology sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $62.56 to $109.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.