Risk advisory firm Kharon signed a contract with the Treasury Department that will give the agency access to Kharon's risk analytics platform and services, Kharon said in a May 7 news release. The company said Treasury will use Kharon's platform to help "with its mission of disrupting the financial operations that underpin the networks of foreign actors tied to global security threats," including terrorism, weapons proliferation, Russia's invasion of Ukraine, human rights violations and more. Kharon didn't disclose the terms of the contract.
OverRuled, a research platform managed by Akin Gump focused on government regulatory and enforcement data, has acquired sanctions guidance research system Turbofac, Akin Gump said last week. The firm said Turbofac, a database that compiles guidance statements and other documents from the Office of Foreign Assets Control, will make OverRuled an “essential one-stop-shop for sanctions professionals globally.” The terms of the deal weren’t disclosed.
Descartes Systems Group is buying export compliance solutions and content provider OCR Services, it said March 28. Descartes acquired OCR for about $90 million.
AIT Worldwide Logistics acquired the Netherlands-based Global Transport Solutions Group, a “prominent international freight forwarder specializing in time-critical marine spare parts logistics,” AIT said in a Feb. 1 news release. The terms of the deal weren’t disclosed.
Private equity firm TPG acquired a majority stake in Sayari, it said in a news release Jan. 16. The agreement between the companies allows TPG “to make an up to $228 million strategic majority investment in Sayari,” the release said. “Sayari’s founders, employees, and existing investors will retain a significant stake in the company.” Sayari recently won government contracts for services to support anti-forced labor efforts by CBP and the Labor Department (see 2401050051).
China's stranglehold on minerals used in electric vehicle battery-making, and their head start on making quality, affordable EVs makes U.S. and European firms anxious, panelists said at a Georgetown Business School webinar on the future of auto value chains.
Kuehne+Nagel will acquire the Canada-based customs broker Farrow, the Swiss logistics company said in a news release. “The acquisition of Farrow will be immediately earnings-accretive and will expand the company’s customs capabilities in a complementary way, especially at the Canadian and Mexican borders of the USA,” Kuehne+Nagel said. The deal's completion is expected in the first quarter of 2024, and is subject to “approval from regulatory authorities and customary closing conditions,” the release said. “Upon close, Farrow will become a fully owned subsidiary of Kuehne+Nagel.” Terms were not disclosed.
The U.S. Chamber of Commerce and BusinessEurope issued a joint statement ahead of European Commission President Ursula von der Leyen's visit with President Joe Biden, asking them to "definitively reject protectionism," which the groups said is on the rise, due to "misinformed narratives about industrial decline." She will be in Washington Oct. 20.
Returning Flexport CEO Ryan Petersen announced he’s “rescinding a bunch of signed offer letters for people who were starting as soon as this Monday.” He made the announcement Sept. 8 on X, formerly known as Twitter, and said a “Flexport team member will reach out to each of you personally asap to explain the move.”
Ryan Petersen is returning to Flexport as CEO of the multinational freight forwarder, following the departure of previous CEO Dave Clark on Sept. 6, Petersen said in a post on X, formerly known as Twitter. In a letter to Flexport employees included in the post, he said that “it’s clear that important changes are needed to sustain our growth and return to profitability.”