Descartes buys into software firm

WATERLOO, Ont. (March 19, 2001) — Descartes Systems Group, the developer of supply chain management software, has taken an unspecified equity stake in Sameday.com, a company that produces inventory management software.

Under the agreement, Descartes has incorporated Sameday’s software, Syntempo, into its Global Logistics Network system. Descartes says the integration of Sameday software will give its customers greater control over inventory, whether in motion or at rest, and before it has even been allocated for manufacturing or distribution.

Sameday.com is based in City of Industry, Calif.

Descartes also announced last week that it recorded an annual operating profit for the first time, of $1.6 million, for the fiscal year ended Jan. 31, 2001, compared to a fiscal 2000 loss of $20.4 million. Annual total revenue increased by 53% compared to the previous year, to $66.6 million.