Acquisition Fuels Contraction Of Trade Logistics Market

TradeBeam Holdings Inc. has acquired the assets of Open Harbor, a provider of international trade logistics solutions. The move, says San Mateo, Calif.-based software provider TradeBeam, continues the company's strategy to expand its product footprint, which encompasses the lifecycle of global trade from order to financial settlement activities. Open Harbor's expertise is in the trade-compliance arena, TradeBeam says. Financial terms of the deal were not released. The purchase of Open Harbor's assets was TradeBeam's third acquisition in the past 18 months. "Expanding our compliance capability to include trade content for more than 60 countries and adding a landed cost management solution to our product portfolio were two key objectives for TradeBeam, and we are pleased to have found an opportunity to address both areas through the acquisition of Open Harbor's assets," says TradeBeam President and CEO Graham R. F. Napier.