Descartes Systems Group (Nasdaq: DSGX) has purchased Datamyne, a cloud-based provider of import and export trade data, for approximately $52.7 million in cash. The buyer’s logistics network will be complemented by Datamyne’s transportation resources.

Datamyne, founded in 1992, collects, cleanses and commercializes logistics trade information for transactions in more than 50 countries across 5 continents. Each year, the Miami, Florida-based target gathers more than 100 million records each year from official filings with customs authorities and trade ministries. Datamyne’s web-based software, which allows clients to simplify trade data research to enhance prospecting and sourcing strategies, will be a complementary addition to the buyer’s Global Logistics Network. The target, a portfolio company of Greenwich, Connecticut-based private equity firm Nassau Point Investors LLC, also has offices in Uruguay, Argentina and Brazil.

“Datamyne broadens our trade data content footprint beyond customs and regulatory data and into logistics trade data,” states Descartes CEO Edward J. Ryan.

Descartes, headquartered in Ontario, Canada, is an on-demand, software-as-a-service (SaaS) provider of performance and security logistics for the transportation industry. The buyer’s Global Logistics Network allows customers to route, schedule, track, and measure delivery resources, in addition to auditing and processing transportation invoices. Nearly 3,000 Datamyne customers will join the buyer’s logistics software, as part of the acquisition.

Deals for cloud-based businesses remain an integral part of M&A activity in 2016. Related deals include: Salesforce.com announcing plans to purchase cloud-commerce services distributor Demandware Inc. (NYSE: DWRE) in June 2016; Thoma Bravo agreed to buy enterprise software company Qlik Technologies Inc.; Bregal Sagemount’s acquisition of Discovery Data Inc.; and Siris Capital Group LLC’s agreement to buy Xura Inc. (Nasdaq: MESG).

Technology