Manufacturing Industry
Financial firm ventures into logistics with Vastera acquisition.(Trade Management)
Manufacturing Business Technology, March, 2005 by Smith, Frank O.
The nascent global trade management (GTM) market took an interesting turn with the news that JP Morgan Chase, a $1.1-trillion financial institution, is acquiring global trade logistics management software and services supplier Vastera. The deal effectively integrates the financial supply chain with the physical supply chain.
The move was a surprise to some and, in principle, expected by others as a means of streamlining management of the parallel flows of information, goods, and currency in cross-border commerce. "It's natural they would come together," says Greg Aimi, director of supply chain research for Boston-based AMR Research. "We've seen a dramatic increase in the global movement of goods compared to domestic." The acquisition, Aimi adds,...
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