Vastera

Vastera, Inc. operated as a specialized provider of global trade management (GTM) solutions, assisting multinational corporations in navigating the complexities of international commerce. The company was established in November 1991, originally under the name Export Software International, Inc., and was co-founded by Arjun Rishi and George Bardos. Rishi, who served as the company's CEO, had a background as an independent computer consultant, notably for Electronic Data Systems, before embarking on his entrepreneurial journey with Vastera. This experience in developing complex software systems laid the groundwork for Vastera's technological approach to trade and logistics.

The firm's core business revolved around a portfolio of software and services designed to automate and streamline the processes associated with the cross-border movement of goods. Vastera served a clientele of over 200 large companies, including major automotive and technology firms, helping them manage imports and exports across more than 120 countries. The company's revenue streams were diversified, generated through software licenses, subscription-based access to its hosted platforms, and comprehensive managed services where Vastera would directly oversee a client's global trade operations. A significant milestone was the acquisition of Ford Motor Company's global customs import operations in July 2000, which substantially expanded its managed services division, a key revenue generator. This was followed by the acquisition of General Electric's internal U.S. customs operation in June 2003.

At the heart of Vastera's offerings was its proprietary TradeSphere® software suite. This platform provided functionalities for import and export compliance, restricted party screening, automated shipment documentation, and optimization of trade agreements. A distinguishing feature was the company's extensive database of global trade content, a constantly updated library of country-specific rules and regulations maintained by a team of trade lawyers and customs experts. This content powered the TradeSphere suite, enabling clients to maintain compliance and improve efficiency. The company went public with an initial public offering on the Nasdaq exchange in September 2000. Vastera's trajectory as an independent entity concluded in January 2006, when it was acquired by JPMorgan Chase for approximately $129 million, integrating Vastera's trade management solutions with the bank's financial services. The operations and technology were later acquired from JPMorgan Chase by Livingston International in April 2012.

Keywords: global trade management, Vastera, Arjun Rishi, George Bardos, TradeSphere, export compliance, import compliance, customs automation, trade logistics software, supply chain management, international trade services, trade regulations, managed trade services, JP Morgan Chase acquisition, Livingston International, cross-border commerce, trade content, duty optimization, restricted party screening, trade agreement management