Descartes Buys NetCHB for $40 Million
Descartes Systems Group bought NetCHB for $40 million, "plus potential performance-based consideration," the companies said Feb. 10. NetCHB, headquartered in Arizona, helps in automating customs broker filings, including for Section 321 Type 86 entries, Descartes said. "The maximum amount payable…
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under the all-cash performance-based earn-out is $60.0 million, based on NetCHB achieving revenue-based targets over the first two years post-acquisition," it said.