JPMorgan has agreed to buy trade information and software provider, Vastera and merge it with its treasury services unit. The acquisition will give the bank's trade customers access to logistics information surrounding imports and exports, including those clients who trade in Asia. Vastera has a reasonable Asian footprint with activities concentrated in China and Japan.
Vastera's services are used by 400 customers worldwide. Its information and database products allow traders to manage their global trade operations with information on the classification of goods, licence controls, shipment reconciliation, import and export tariffs and customs inspections.
JPMorgan awaits regulatory approval of the acquisition, but has agreed to...
