Chippenham-based Exentra Transport Solutions Limited, a leading UK-based provider of software-as-a-service driver compliance solutions, has been sold to Descartes Systems Group.
The all cash purchase price for the acquisition was £10.7 million and shareholders were advised by the independent corporate finance house Clearwater Corporate Finance.
Exentra and provides compliance management solutions to some of the UK’s leading transport companies.
The company’s cloud-based Smartanalysis helps customers take data from vehicle tachographs to comply with EU-wide legislation governing driver compliance.
Partner Nick Jones, assistant director Paddy Bamford and senior analyst Emma Rodgers, of Clearwater Corporate Finance, advised Exentra on the deal.
Steve Fisher, chief executive of Exentra and director of compliance at Descartes, said: “The EU driver compliance legislation has been in place longer than comparable regulations in North America. In the EU, not only is every vehicle required to have tachograph hardware, but the hardware is standardised and fitted during vehicle production.
"Our experience strengthens Descartes’ Routing, Mobile and Telematics suite to address the US regulatory environment, while our combined solutions also have an immediate impact on the quality and safety of route planning for our collective UK customers.”
Nick Jones, partner at Clearwater, said: “I am delighted to see Exentra become part of the Descartes group.
"There is an excellent fit in terms of strategy and culture between the two businesses, with clear opportunities for the Exentra platform to be rolled out across Europe and North America as well as for Exentra in the UK to offer the full suite of Descartes products to its existing customers.”
Clearwater Corporate Finance has offices in London, Manchester, Birmingham and Nottingham and is part of IMAP.