TAKE Supply Chain Acquires PSI Software company

Filed in archive merger and acquisition on August 20, 2009

Journal of Commerce just reported this week that TAKE Supply Chain (formerly ClearOrbit), a provider of software solutions to power demand-driven value networks, has acquired the product division of privately-held, El Paso, TX-based, PSI Software, Inc.

The acquisition solidifies TAKE's commitment to global trade management. In March, the two companies partnered to provide a solution to manufacturers importing and exporting large quantities of goods and components across the U.S., Canada and Mexico. The acquisition will expand the global trade management solution beyond its current North American Free Trade Agreement (NAFTA)-focus to managing compliance and trade requirements worldwide.

According to AMR Research's Will McNeill, research director, "In the area of global trade management, managing the risk has fallen on supply chain, logistics, compliance and financial professionals. A typically outsourced process has started to come in-house, and the software market is growing, expanding and evolving to meet these needs. TAKE Supply Chain's acquisition of PSI is a good example of this growth."

Based on both companies' vast experience working with the world's largest manufacturers and distributors, the acquisition is expected to yield supply chain efficiencies and cost savings for organizations producing goods for international trade. PSI's industry-leading customs compliance automation and global trade management technology combined with TAKE Supply Chain's data collection automation, supplier collaboration and track, trace and control capabilities will provide a complete audit trail and supporting documentation to ensure proper customs compliance.