Transaction

Clearwater advises ASD & Thyme-IT on its sale to Descartes Systems Group

Transaction

ASD & Thyme-IT on its sales to Descartes Systems Group

Sell-side

Undisclosed

Role

Adviser to ASD & Thyme-IT on its sales to Descartes Systems Group

Sector

Tech & Tech Services

Region

Ireland

Clearwater has advised Aerospace Software Developments & Thyme-IT (ASD), a leading provider of customs and regulatory compliance software solutions, on its sale to Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX) (Descartes), the global leader in uniting logistics-intensive businesses in commerce.

Based in Dublin, Ireland, ASD provides customs declaration software solutions for logistics services providers (LSPs) and shippers, as well as RFID solutions that help the air logistics community track assets. The company’s customs filing solutions, operating under the brand Thyme-IT, help importers, exporters, and logistics services providers comply with Irish regulatory requirements for imports and exports in a secure and efficient manner. In addition, ASD’s RFID solutions help global airlines and ground handlers eliminate manual tasks and comply with various airline regulations more efficiently through the unique identification, tagging, and tracking of assets.

Descartes is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security, and sustainability of logistics-intensive businesses. Headquartered in Ontario, Canada, and with offices and partners around the world, Descartes helps customers to route, track, and improve the safety, performance, and compliance of delivery resources; plan, allocate, and execute shipments; rate, audit, and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community.

Software solutions

This is a momentous day for all of the ASD / Thyme-IT family as we join Descartes Systems Group, the global leader in uniting logistics-intensive businesses in commerce. We believe that being part of this group will bring added value to our loyal customers and help us to internationalise further. We would like to say a particular thank you to Sam, Michael, Chris, John and all of the Clearwater team, for their invaluable support and advice throughout this process. Clearwater’s software experience, and access to buyers and investors, both locally and internationally, were critical in getting this deal across the line.

Dave Browne, Managing Director, ASD & Thyme-IT
Software solutions

As customers increasingly look to cover more business processes with one provider, we continue to add solutions to Descartes’ Global Logistics Network (GLN) for them to do so. ASD shares a common vision to serve the wider global logistics community of shippers, carriers, and LSPs. We’re excited to welcome the ASD employees, customers, and partners into the Descartes family.

Edward J. Ryan, CEO, Descartes Systems Group

We are delighted to have acted as principal adviser to the shareholders of ASD & Thyme-IT on its acquisition by Descartes Systems Group. Joining Descartes will help to accelerate ASD & Thyme-IT’s ambitious expansion plans. It will also offer its customers the benefits of access to the broader Descartes’ GLN and Real-Time Tracking Platforms. We are excited to see what the business can achieve in its next phase of growth as part of Descartes. We wish Dave, Adam, John, and Steve every success as they begin this new journey.

Sam Nolan, Partner, Clearwater

Advisers

Transactions