Mergers and Acquistions News
Categories: Software
May 10th 2010, 16:29PM
UBM Global Trade, a provider of business intelligence to the transport and logistics industries, has acquired selected assets of CenTradeX as a means of complementing its existing PIERS trade information offering.
As a result of the $644,000 (£429,000) deal, CenTradeX's three principal products - Propects, Trade Stats and Dashboard - will integrate the PIERS data set to provide a new kind of analytical product.
John Day, chief executive officer of UBM Global Trade, said the firm's continued investment in CenTradeX is expected to propel it to new levels of growth.
"CenTradeX is a logical fit to our PIERS business due to their technology expertise, industry knowledge and advanced data analytics," he commented.
PIERS executive vice-president Gavin Carter added that the acquisition strengthens UBM's software-as-a-service capabilities and provides a platform for clients to begin extracting added value from their services.
The deal follows UBM's acquisition of SharedVue, a web-based marketing firm, last month.
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