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 Far East.
SOURCE Livingston International Inc.