|Vastera, Inc. (Vastera) was a leading provider of web-based software products and services that simplified and automated importing and exporting goods on a global scale by streamlining the trade processes. It was incorporated in the state of Virginia in November 1991 under the name Export Software International, Inc., and reincorporated in Delaware in 1996; the company changed its name to Vastera, Inc. in June 1997. The core of the business was its global trade content, an extensive online library of country-specific rules and regulations used to automate global trade processes. Vastera’s web-based software applications used this content to improve coordination and collaboration between the network of trade participants required to complete international transactions. Clients were able to access the software by subscribing, purchasing a license, using Vastera’s transaction-based hosted service through an internet portal or having Vastera manage part or all of their global trade operations directly. The company’s solutions included centralized, comprehensive and current global trade content that enabled clients to automate and optimize information management procedures across their entire global trade network. Vastera’s client-base included over 200 companies that used its solutions to ship to over 120 counties worldwide. Vastera was, at one time, the largest and only publicly-traded company solely focused on Global Trade Management.
PRODUCTS AND SERVICES
Vastera helped clients manage their global supply chain by offering the TradeSphere® software solutions suite, trade management consulting and managed services.
Learn more about Vastera’s solutions.
VASTERA’S PRODUCTS TODAY
Today, Livingston leverages in-depth consulting services with the TradeSphere® software products to help clients navigate the complex global trade market.
Learn more about Livingston’s solutions.
When it was founded in 1991, Vastera’s services consisted mostly of software and implementation services relating to the installation of their software products.
In July 2000 the company acquired Ford Motor Company’s global customs import operations, which allowed them to broaden their service offerings by providing trade management business process outsourcing services to clients in the form of Managed Services. Managed Services became a major revenue generator for Vastera. Along with the acquisition, the company also entered into a Managed Services agreement with Ford for the administration, automation and management of their global trade import operations in the United States, the contract was later expanded to include Canada, Mexico, the United Kingdom, Spain, Belgium and Germany.
In August 2001, Vastera was awarded a contract with Lucent Technologies to manage its global trade operations in the United States; the contract was subsequently extended to cover all of North America, Europe and Brazil.
In January 2006 the company was acquired by JPMorgan Chase, under the agreement that Vastera survive the merger as an indirect wholly-owned subsidiary of JPMorgan Chase.
In April 2012, Livingston International acquired the operations and technology of what was formerly Vastera from JPMorgan Chase. The transaction included Prisma, Restricted Party Screening and TradeSphere®.
During its lifecycle, Vastera experienced a lot of growth and profit – both organically and by acquisition.
January 1999 – Acquired Deltac Limited, a trade content and management consulting provider for the United Kingdom and European Union.
June 1999 – Acquired Quantum Consulting Associates Inc. to enhance trade process consulting services and trade expertise.
July 2000 – Acquired Ford Motor Company’s global customs import operations.
March 2001 – Acquired Speedchain, a supply chain event management and global e-logistics solutions provider.
January 2002 – Acquired Prisma Tecnologia Computacional, S.A. de C.V., Global Trade Management solutions provider in Mexico.
February 2002 – Acquired Imanet, a Global Trade Management solutions provider in Canada.
March 08, 2002 – Acquired Bergen Informatica Ltda., a Global Trade Management solutions provider in Brazil.
June 2003 – Acquired General Electronic (GE) Company’s internal U.S. customs import operations.
Industry: Trade compliance
Headquarters:Dulles, VA (USA)