Media Coverage
Deals point to supply chain convergence
By Staff, Manufacturing Business Technology, 1 May, 2005
JPMorgan Chase Bank has finalized acquisition of Vastera, a supplier of global trade management solutions. The transaction’s value was about $129 million. Vastera, which will now be known as JPMorgan Chase Vastera, reported 2004 calendar-year revenues of $84 million.
In another deal, TradeBeam—which supplies on-demand solutions for order, ship, and settle for international shipments—is acquiring Open Harbor, an on-demand provider of compliance, landed cost, and import/export customs documentation solutions. Beth Enslow, VP of enterprise research at Boston-based AberdeenGroup, says the acquisitions are leading indicators of the convergence of the global physical and financial supply chains. This emerging trend will help companies meet objectives and mitigate business risk.
