GTKonnect, a premier provider of Global Trade Management (GTM) solutions, announced that it has acquired ECCNSelect software and its patented technology platform for ECCN determination and management, for an undisclosed amount.
“The addition of ECCNSelect to the GTKonnect portfolio not only provides a great value to the GTK product suite, it also helps us offer our customers an integrated Export management solution”, said Anand Raghavendran, President and CEO of GTKonnect. “We are very strong on the import side and the addition of ECCNSelect will now strengthen our Exports offering as well”.
GTKonnect, Inc. has been providing GTM software and content solutions to customer worldwide under its GTKonnect platform. GTKonnect’s offering includes solutions to manage Imports, Exports, Denied Party Screening, Foreign Trade Zone (FTZ), Global Supply Chain Security (GSCS) for various security initiatives (CTPAT, AEO, PIP, etc.), Global Parts Database, Bonded Warehouse, Drawback, Reconciliation and other US and Global customs programs. GTKonnect’s customers include companies such as Alcoa, Boeing, Johnson& Johnson, DBSchenker, DHL Express, DHL Global Forwarding, Mitsubishi Motors, DSV Air & Sea, Mattel, Skechers, Target, Harbor Freight Tools, Hellman Worldwide Logistics, 5.11 Tactical, Konica Minolta, Asics, Spectrum Brands and others.
“We will continue to offer and support ECCNSelect as a standalone solution as it works today and will soon be integrating to our core platform to provide an integrated offering to our customers”, said Mr. Raghavendran. “This will help us in our quest of becoming the leading provider of GTM solutions and with our global expansion strategy”. “We wanted to work with a partner who will continue to carry forward with our vision in developing ECCNSelect and supporting our customers”, said Mr. Miller of ECCNSelect, “while we received many offers, GTKonnect was the best fit, our thoughts and strategies were aligned. We are very excited working with GTKonnect and with this deal, I am very confident that our customers are in the best hands”.
“To date, our growth strategy has been very organic and we were quite successful with that strategy. In order to accelerate our growth and to expand our market presence and to offer new solutions to our customers, we will also be actively pursuing a strategy to consider new partnership opportunities in the market and our acquisition of ECCNSelect is a first step in the process” said Shankar Ram, Founder and Chairman of GTKonnect.