Descartes Systems Group has acquired Pentant Limited, a leading UK-based Community System Provider (CSP) offering customs connectivity and import/export inventory control solutions for ocean, truck and air cargo.
Pentant provides its shipper and logistics service provider customers with a reliable and secure connection to both CHIEF (the central UK Revenue & Customs
system) and ICS (the European Union Import Control System) to streamline declaration, cargo security and clearance processes. Pentant also helps customers meet UK Revenue & Customs requirements for imports and exports to be managed through an approved inventory control system for the Ports of Dover, Portland, Poole, Plymouth, Teignmouth, Bideford and Scrabster, as well as London City and Warton airports.
“As a fully approved UK CSP, Pentant expands the reach of Descartes’ Global Logistics Network with a direct connection to UK Revenue & Customs,” said Ken
Wood, Executive Vice President of Product Management at Descartes.
“By combining with Pentant, we’ve strengthened the capabilities of our market-leading global Customs and Regulatory Compliance solution portfolio.”
“Descartes’ growing multimodal logistics community will now benefit from increased customs compliance domain expertise and enhanced service levels in the
UK,” said Richard Dobber, SVP of European Sales at Descartes.
“In addition, Pentant’s customers will have access to Descartes’ broader set of solutions to improve the performance and productivity of their logistics
operations using the Descartes Logistics Technology Platform.”
Descartes acquired Pentant for up-front consideration of GBP 1.8 million plus potential performance-based consideration. The maximum amount payable under
the all-cash performance-based earn-out is GBP 0.3 million based on Pentant achieving revenue-based targets over a one year period. Any earn-out is expected to be paid in fiscal 2016.
Descartes has also announced its acquisition of e-customs Inc., a leading provider of electronic security and fiscal customs filing solutions in the UK.
Prior to the acquisition, e-customs and Pentant were independently operated companies under common control of several private UK investors.