IOE member Amber Road Acquires Shanghai-Based EasyCargo
20 September 2013
Posted by: IOE News
It is always rewarding to share our members’ business success stories. This week we are celebrating the news that IOE corporate member Amber Road has acquired EasyCargo, a Shanghai-based global trade management (GTM) solutions provider specializing in complex Chinese trade regulations.
The purchase will enable Amber Road, sponsors of our glittering Gala Dinner to celebrate The Queen’s Awards for Enterprise, to capitalise on trade growth driving the need for global trade management solutions in China.
EasyCargo is a cloud-based solutions company with a specific focus on a subset of global trade management called China Trade Management, or CTM. They support more than 40 customers, including category leaders such as Bosch, BMW, Continental Automotive and General Electric.
According to the World Trade Organization, Chinese merchandise exports grew from $249 billion in 2000 to $2 trillion in 2012, an increase of 703 per cent. During that same period, Chinese merchandise imports grew from $225 billion to $1.7 trillion, an increase of 656 per cent. China is now first in worldwide exports and second in worldwide imports, behind only the United States.
By comparison, U.S. exports grew by 99 per cent ($785 billion to $1.2 trillion dollars) and imports by 47 per cent ($1.2 trillion to $2.3 trillion) during the same period, according to the U.S. Census. China also is now the world’s second largest economy in terms of Gross Domestic Product (GDP) and Congressional Research Service analysts anticipate it could become the world’s largest economy within five years.
“Many of our existing North American and European-based customers do business with or in China, either as a source of supply, a manufacturing base, or as a market for exports,” said Jim Preuninger, CEO of Amber Road, a leading provider of (GTM) solutions. “Our acquisition of EasyCargo will enable us to offer deep China-specific trade capabilities to our existing customer base as well as access the growing Chinese market.”
“It is very exciting for us to join such a prominent player in the global trade management space,” said Kae-por Chang, CEO and founder of EasyCargo. “By adding our deep China Trade Management capabilities to Amber Road’s comprehensive GTM suite, we believe we can offer a complete solution to companies doing business in China and abroad.”