Under the Agreement and Plan of Merger, Vastera shareholders are to receive $3 for each outstanding share of Vastera common stock they own, for a total transaction value of approximately $129 million.
Vastera’s solutions automate the required trade management processes associated with the physical movement of goods internationally. JPMorgan believes the acquisition will help to provide its clients with a one-stop shop that addresses their needs regarding moving goods across international borders, which will therefore attract more customers to its service.
Through the acquisition of Vastera, JPMorgan Chase becomes the first global financial institution to offer an integrated cash, trade and logistics solution that brings together the physical and financial supply chains, said Paul Simpson, Trade Services Executive, JPMorgan Chase.
Vastera brings with it over 400 companies around the world for which it documents imports and exports, determines correct licensing and classifications, ensures compliance and tax requirements, manages inventory and tracks payments … everything to make the physical movement of goods easier and more efficient.
