RealTime IT News

Vastera to Purchase PRISMA

Vastera, Inc. , which develops global trade management (GTM) solutions, has signed a definitive agreement to acquire PRISMA Tecnologia Computacional, S.A. de C.V., a provider of software solutions for GTM in Mexico. Financial terms of the acquisition were not disclosed.

During its ten years in the Mexican market, PRISMA has acquired a list of over 150 clients from the automotive, industrial and high-tech industries including ALCOA, GE, Johnson Controls, Visteon and Lear.

Through the acquisition, the Dulles, Va.-based Vastera will bolster its existing North American solutions with critical Mexico-specific functionality including support for Maquiladora, PITEX and fiscal deposit regimes. PRISMA will also provide Vastera enhancements to its intelligent trade content, the country-specific rules and regulations that govern global trade.

PRISMA also brings Vastera deep global trade domain expertise specific to Mexico, including extensive import/export process expertise needed for leveraging preferential trade programs like NAFTA and the Mexico-EU free trade agreement.

For the past nine years, PRISMA has been a key participant in the Consejo Nacional de la Industria Maquiladora de Exportacion (CNIME), the central trade association representing the interests of Maquiladoras, thus providing PRISMA the ability to incorporate planned changes to Mexican trade legislation into its solutions before the legislation takes effect.

Vastera initiated operations in Mexico in January of 2001. From its Mexican-based managed services trade hub near Mexico City, Vastera runs the Mexican global trade operations for Ford Motor Company, Visteon, and other companies.

"Our strategy is one of building a global platform to assist companies to trade effectively throughout the world," said Mark Ferrer, president and chief operating officer of Vastera. "We continue to execute on our strategy by expanding our solutions both vertically and geographically. Our acquisition of PRISMA accelerates our ability to deliver value to our clients as we gain technologies that enhance our current offerings in the North American market and we augment our domain expertise in Mexico."