Descartes Acquires New Jersey-Based Sellercloud For Up-front Consideration Of Approximately $110M Satisfied From Cash On Hand, Plus Additional Potential Performance-based Consideration
Portfolio Pulse from Benzinga Newsdesk
Descartes Systems Group has acquired Sellercloud for $110 million, with an additional $20 million possible based on performance targets. The acquisition is funded by cash on hand.
October 14, 2024 | 11:02 am
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Descartes Systems Group has acquired Sellercloud for an upfront payment of $110 million, with an additional $20 million contingent on performance. This acquisition is expected to enhance Descartes' capabilities and market reach.
The acquisition of Sellercloud by Descartes Systems Group is a strategic move to enhance its service offerings and market reach. The upfront payment of $110 million, with a potential $20 million earn-out, indicates a significant investment in growth. This is likely to positively impact DSGX's stock price in the short term as investors may view this as a value-adding acquisition.
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