JP Morgan sells off Vastera
Shipping logistics firm Livingston International has acquired the customs and trade compliance services of JP Morgan’s global trade business, formerly known as Vastera.
The acquisition will expand Livingston’s trade and service offerings within the US while helping to extend the business to Mexico, Europe and Asia.
In 2005 Vastera was acquired by JPMorgan Chase Bank and combined the logistics and trade services businesses of the bank’s treasury service unit.
Commenting on the acquisition Peter Luit, Livingston’s president and chief executive officer tells GTR: “With this acquisition, we are gaining a great depth of expertise and robust capabilities in import/export compliance management and expanding our operating platforms into Mexico and Europe, to deliver first-class customs and trade solutions to companies who do business globally.”
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