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Descartes Systems Buys Telargo for C$9.6 Million

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6/17/2011 9:00:00 AM

Descartes Systems Group, a supplier of logistics technology, has acquired Telargo Inc. for about C$9.6 million in cash.

The target is a privately held Jersey City, N.J.-based provider of software that monitors vehicles, workers, equipment and cargo.

Telargo said its products gather data such as vehicles location, engine and braking use and tallies hours of driver service.

Descartes, Waterloo, Ontario, reported earlier this month that its fiscal first-quarter net income rose to $2.2 million, or 3 cents a share, from $200,000, or 1 cent, a year ago.

Revenue rose 27% for the quarter ended April 30 to $27.1 million.

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Emil Estafanous, CPA, CFF, CGMA