The Descartes Systems Group Inc. (TSX:DSG) acquired XPS Ship, LLC for approximately $140 million on June 3, 2022. The maximum amount payable under the all-cash performance-based earn-out is $75 million, based on XPS achieving revenue-based targets in each of the first two years post-acquisition. Any earn-out is expected to be paid in fiscal 2024 and fiscal 2025. The consideration will be satisfied with cash on hand. XPS customers, employees and partners will be joining Descartes. John Cooper and Susan Blanco of Capital Clarity acted as financial advisor to XPS Ship, LLC.

The Descartes Systems Group Inc. (TSX:DSG) completed the acquisition of XPS Ship, LLC on June 3, 2022. Under the terms of agreement, the purchase price for the acquisition was approximately $61.1 million, net of cash acquired, which was funded from cash on hand, plus potential performance-based contingent consideration of up to $75 million based on XPS achieving revenue-based targets over the first two years post-acquisition.