Descartes Acquires Idelic for Approximately $28M
Descartes Systems announced that it has acquired Idelic, a provider of AI-powered driver safety and performance management solutions. Idelic is headquartered in Pittsburgh, Pennsylvania. Descartes acquired Idelic for up-front consideration of approximately $28M satisfied with cash on hand, plus potential performance-based consideration. The maximum amount payable under the all-cash performance-based earn-out is $12M, based on the combined business achieving revenue-based targets in each of the first two years post-acquisition. Any earn-out is expected to be paid in fiscal 2028 and fiscal 2029.
