Livingston International finalizes acquisition of customs and trade compliance services of JPMorgan Chase Bank, N.A.
TORONTO, April 2, 2012 /PRNewswire/ – Livingston International has finalized
the acquisition of the customs and trade compliance services of the
Global Trade business of J.P. Morgan Treasury & Securities Services, a
business unit of JPMorgan Chase Bank, N.A., announced Livingston
president and CEO Peter Luit. This acquisition represents the
operations and technology of the former Vastera business.
This strategic addition of a global leader of customs and trade
compliance solutions builds on Livingston’s international trade
expertise and offerings within the United States and Canada, while
extending its services to Mexico, Europe and Asia.
The transaction comprises the logistics services, employees,
intellectual property and technology, including Prisma, Restricted
Party Screening and TradeSphere®. No other J.P. Morgan Global Trade
business is included in the deal.
“In addition to accelerating our growth strategy,” said Peter Luit,
“this highly complementary business gives us a very strong platform in
import and export compliance management, developed for world-class
companies headquartered in North America who do business globally. The
expert staff and unique technology we have acquired,” added Luit, “are
vital to allow clients to realize cost savings and operational
efficiencies while improving compliance with government regulations.
We are confident that our clients will benefit significantly from our
deliberate focus on customs and trade compliance and our commitment to
delivering first-class solutions.”
A leading North American customs broker, Livingston International also
offers customs and international trade consulting services as well as
international freight forwarding across North America and around the
globe. Headquartered in Toronto, Ontario, Livingston has over 2,700
employees located at approximately 100 key border points, seaports,
airports and other strategic locations in North America, Europe and the
SOURCE Livingston International Inc.