Descartes Systems Group, the global leader in uniting logistics-intensive businesses in commerce, announced that it has acquired GreenMile, a leading provider of cloud-based mobile route execution solutions for food, beverage, and broader distribution verticals.
GreenMile’s highly scalable mobile route execution solutions have been built with unique capabilities to serve the global distribution industry. Customers benefit from a next-generation platform that incorporates machine-learning to continually improve service and travel time standards. GreenMile’s innovative solutions are used by some of the world’s largest food and beverage companies to digitize final-mile delivery processes, thereby eliminating paper from the supply chain, increasing efficiencies and improving customer satisfaction.
“We continue to invest in a broader set of capabilities to help our customers across diverse industry verticals solve their final-mile challenges,” said Edward J Ryan, Descartes’ CEO. “The GreenMile combination helps us by adding a team with deep domain expertise in retail food and beverage distribution, extending our operational footprint and presence in Latin America, and adding to our community of truly global distribution companies. We’re thrilled to welcome the GreenMile employees, customers and partners into the Descartes family.”
GreenMile is headquartered in Orlando, Florida. Descartes acquired GreenMile for up-front cash consideration of $30 million, plus potential performance-based consideration. The maximum amount payable under the all-cash performance-based earn-out is $10.0 million, based on GreenMile achieving revenue-based targets over the first two years post-acquisition.