Descartes Systems announced that it has acquired GroundCloud, a cloud-based provider of final-mile carrier solutions and road safety compliance tools. GroundCloud is headquartered in Minneapolis, Minnesota. Descartes acquired GroundCloud for up-front consideration of approximately $138M satisfied with cash on hand, plus potential performance-based consideration. The maximum amount payable under the all-cash performance-based earn-out is $80M, based on the combined business achieving revenue-based targets in each of the first two years post-acquisition. Any earn-out is expected to be paid in fiscal 2025 and fiscal 2026.
Published first on TheFly
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