Posted January 15, 2002 Manufacturing News Descartes Acquires Majority Interest in Tradevision Descartes Systems Group (Waterloo, Ontario; www.descartes.com), vendor of network-based logistics management solutions, acquired a majority interest in Tradevision AB (Stockholm, Sweden; www.tradevision.net), vendor of transportation logistics software and services. Descartes will connect Tradevision's air cargo messaging network to the Descartes Global Logistics Services Network, a logistics messaging service to more than 5,000 transportation service providers, manufacturers, distributors, and retailers. Descartes acquired the majority interest in Tradevision AB from IT company Nocom AB (Uppsala, Sweden; www.nocom.com). The acquired shares represent Nocom's entire holdings in Tradevision, or 70 percent of all shares in the company. Descartes also acquired certain indebtedness of Tradevision to Nocom. The transaction is valued at approximately $2.54 million. Tradevision becomes a subsidiary of Descartes, and will continue to operate as an independent company. According to Willem Galle, president and chief operating officer of Descartes, "As a central logistics messaging hub for Europe, Tradevision will provide European-based companies with more domain expertise and points of presence to access the Descartes Network, helping them gain a time-to-benefit advantage for managing their international logistics processes." The Manufacturing Report © Copyright 2002 by Lionheart Publishing, Inc. All rights reserved. E-mail Editorial Dept: tmr-editorial@lionhrtpub.com Lionheart Publishing, Inc. 2555 Cumberland Parkway, Suite 299, Atlanta, GA 30339 USA Phone: 770-431-0867 | Fax: 770-432-6969 E-mail: lpi@lionhrtpub.com