Descartes Acquires MyCarrierPortal for $24 Million
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Descartes Systems Group has acquired MyCarrierPortal, a U.S.-based provider of carrier onboarding and risk monitoring services for the trucking industry.
The acquisition targets growing concerns over carrier fraud and cargo theft, Descartes said.
MCP’s platform helps freight brokers and shippers screen truck carriers for insurance compliance and safety standards, and offers monitoring to ensure carriers remain compliant. It will alert customers should any issues arise.
“Carrier fraud and cargo theft is an ongoing problem in the transportation industry,” said Dan Cicerchi, General Manager of Transportation Management at Descartes. “This acquisition is another investment to improve ‘Know-Your-Carrier’ capabilities, which are critical for better supply chain performance and fraud reduction.”
Descartes, a global provider of logistics software, will integrate MCP’s capabilities into its existing services, including its MacroPoint FraudGuard tool, which is designed to reduce fraud risk by enhancing carrier visibility and compliance.
“We remain committed to adding solutions that help customers manage shipments securely and efficiently,” said Edward J. Ryan, CEO of Descartes. “MCP complements our investment in MacroPoint, and we’re excited to welcome MCP into the Descartes family.”
Descartes paid $24 million upfront for MCP, with an additional $6 million contingent on performance over the next two years.
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