Global trade management specialist Descartes Systems Group on Monday announced a tender offer for all the outstanding shares of Zemblas NA, a Belgian company that does business under the trade name Porthus.
The transaction will be handled through the Dexxcartes subsidiary, which will finance the approximately €30 million buyout with cash on hand. Descartes is offering Porthus investors €12.50 for each of their shares, and said in a statement that shareholders representing nearly 52% of Porthus’ public equity had declared their support of the deal. Descartes also said Porthus’ board of directors and executive management are backing the takeover. The tender offer runs to March 12.
Porthus offers a B2B trading hub that runs on its branded Porthus.net communications platform. The technology allows manufacturers and logistics providers to “interact and conduct business with multiple trade partners using its networked platform,” according to the company’s website. The platform automates trade compliance, offers supply chain financial management via e-invoicing and e-archiving, and lets users exchange information electronically with partner companies across the supply chain.
Porthus’ strongest presence is in its home European market, where it recently acquired Dataficiency, a Netherlands-based maker of expedition and customs software. In 2009, Porthus reported €23.3 million in revenue.