Aptean has bought UK-based Paragon Software Systems, expanding its presence in the European market.
With solutions that assist its customers with routing, logistics, scheduling, and home delivery, Paragon has seen strong growth in recent years due to the continuing rise in e-commerce and the rapidly expanding need for companies to support more timely and efficient deliveries.
Founded in 1991, Paragon believes it is well positioned to take advantage of the growing transportation management market, which Gartner projects will see accelerated growth over the next few years, reaching $1.94 billion by 2022.
With more than 4,700 systems deployed globally today, Paragon’s solutions are already being used by more than 300 customers, including many household-name brands in the food and beverage, retail, grocery, distribution and pharmaceutical sectors.
“This is an exciting and strategic acquisition for Aptean as we continue to expand our solution offerings and footprint globally,” said TVN Reddy, CEO of Aptean.
“We see numerous growth opportunities given Paragon’s strengths in route optimising and home delivery capabilities.
“This acquisition progresses our company’s strategy of delivering world class solutions designed to assist our customers in effectively running their business from the production floor to delivery to the end user.”
William Salter, managing director of Paragon, added: “The opportunity to join Aptean, with its proven ability to drive exceptional growth and leadership in the industries we jointly serve, presents a great opportunity for the future of Paragon.
“In joining the Aptean family, we are excited by the opportunity to accelerate innovation, advance product development, expand geographically and tap into its best practice frameworks.
“We see this as a unique opportunity to more rapidly advance our success whilst also building increased value for our customers and growth opportunities for our employees.”
Orrick, Herrington & Sutcliffe LLP provided legal advice to Aptean. Paragon was advised by ICON Corporate Finance Ltd (financial advisor) and Burges Salmon LLP (legal counsel).