Descartes Acquires Foxtrot

Strengthens Machine Learning and Artificial Intelligence Capabilities of Descartes’ Route Planning and Execution Solutions WATERLOO, Ontario, April 21, 2022 (GLOBE NEWSWIRE) — Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), the worldwide chief in uniting logistics-intensive companies in commerce, introduced that it has acquired Foxtrot, a number one supplier of machine learning-based cell route execution options. Foxtrot’s superior machine studying algorithms leverage tens of millions of knowledge factors collected from autos within the area, serving to prospects cut back last-mile prices, enhance customer support and be taught service components that enhance route effectivity and on-time efficiency. The firm’s expertise enhances current route planning and execution options. “Descartes has been a pacesetter in utilizing superior expertise to increase its world-class route planning and execution options for greater than 20 years,” mentioned Ken Wood, EVP of Product Management at Descartes. “Advances in synthetic intelligence and machine studying are making it attainable for us to leverage growing quantities of ‘actual world information’ to raised inform our route planning and execution options. By combining with Foxtrot, we’re including a group with deep area experience and confirmed expertise that may assist speed up our efforts on this space.” “Foxtrot enhances our latest funding in GreenMile, as each firms have in depth expertise within the retail meals and beverage distribution vertical,” mentioned Edward J Ryan, Descartes’ CEO. “We additionally see a direct alternative to leverage Foxtrot’s capabilities throughout our wider route planning and execution resolution suite. We’re thrilled to welcome the Foxtrot staff, prospects and companions into the Descartes household.” Foxtrot is headquartered in San Francisco, California. Descartes acquired Foxtrot for about $US 4.0 million, happy from money available. About Descartes Systems Group         Descartes (Nasdaq:DSGX) (TSX:DSG) is the worldwide chief in offering on-demand, software-as-a-service options centered on enhancing the productiveness, efficiency and safety of logistics-intensive companies. Customers use our modular, software-as-a-service options to route, schedule, monitor and measure supply assets; plan, allocate and execute shipments; charge, audit and pay transportation invoices; entry world commerce information; file customs and safety paperwork for imports and exports; and full quite a few different logistics processes by collaborating on the planet’s largest, collaborative multimodal logistics neighborhood. Our headquarters are in Waterloo, Ontario, Canada and we’ve places of work and companions world wide. Learn extra at www.descartes.com. Global Investor Contact Laurie McCauley +1-519-746-6114 [email protected] Cautionary Statement Regarding Forward-Looking Statements This launch comprises forward-looking info throughout the which means of relevant securities legal guidelines (“forward-looking statements”) that relate to Descartes’ acquisition of Foxtrot and its resolution choices; the potential to offer prospects with cloud-based cell route execution options; different potential advantages derived from the acquisition and Foxtrot’s resolution choices; and different issues. Such forward-looking statements contain recognized and unknown dangers, uncertainties, assumptions and different components which will trigger the precise outcomes, efficiency or achievements to vary materially from the anticipated outcomes, efficiency or achievements or developments expressed or implied by such forward-looking statements. Such components embrace, however aren’t restricted to, the anticipated future efficiency of the Foxtrot enterprise primarily based on its historic and projected efficiency in addition to the components and assumptions mentioned within the part entitled, “Certain Factors That May Affect Future Results” in paperwork filed with the Securities and Exchange Commission, the Ontario Securities Commission and different securities commissions throughout Canada together with Descartes most just lately filed administration’s dialogue and evaluation. If any such dangers truly happen, they might materially adversely have an effect on our enterprise, monetary situation or outcomes of operations. In that case, the buying and selling value of our widespread shares may decline, maybe materially. Readers are cautioned to not place undue reliance upon any such forward-looking statements, which converse solely as of the date made. Forward-looking statements are supplied for the needs of offering details about administration’s present expectations and plans referring to the longer term. Readers are cautioned that such info is probably not acceptable for different functions. We don’t undertake or settle for any obligation or enterprise to launch publicly any updates or revisions to any forward-looking statements to mirror any change in our expectations or any change in occasions, situations or circumstances on which any such assertion relies, besides as required by legislation.

https://www.globenewswire.com/news-release/2022/04/21/2426284/9197/en/Descartes-Acquires-Foxtrot.html

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