Descartes Systems Acquires OCR Services For $90 Million

Supply chain software provider Descartes Systems Group has acquired OCR Services for approximately $90 million.

The Maryland-based OCR helps customers streamline and automate processes around denied party screening, license procurement/management, and product classification. Its core platform, GlobalEASE, is used by multinational organizations around the world to stay current in a rapidly changing regulatory environment.

“The OCR team brings a wealth of domain expertise in global trade compliance to Descartes, including experience leveraging artificial intelligence (AI) in the content management process,” said Descartes Chief Commercial Officer Andrew Roszko. “By adding OCR’s solutions and content to our Global Logistics Network, we see an opportunity to bring new functionality and enhanced content to our customers and partners around the world. With our combined solutions and team, we also see an opportunity to further penetrate markets in Europe and Asia.”

Similar to Descartes, OCR monitors regulatory sources and updates their trade data content libraries daily. OCR’s controlled export data expands Descartes’ global trade content library for customers and partners, such as SAP and Oracle.

“We continue to invest in solutions and content to help our customers manage the complete lifecycle of shipments in what is an increasingly dynamic global regulatory environment,” said Edward J. Ryan, Descartes’ CEO. “OCR complements our Global Trade Intelligence business, particularly our Visual Compliance and MK Data investments. We’re thrilled to welcome the OCR employees, customers, and partners into the Descartes family.”