VASTERA SIGNS $25 MILLION DEAL WITH LUCENT TECHNOLOGIES
Vastera Inc., the Dulles, Va.-based trade management software provider, has signed a five-year contract to Lucent Technologies' U.S.-based global trade operations.
The first three years of the contract are valued at $25 million. The deal is Vastera's largest since it signed a $47-million contract with Ford Motor Co. in July 2000, taking over management of the automaker's U.S. customs operations. In fact, Vastera said that it leveraged the infrastructure and capabilities it brought in from the Ford deal to create the software for Lucent.
Lucent will use Vastera's managed services solutions to perform product classification, performance checks on shipments, license applications, internal shipping documents generation and import entry filing. Lucent also expects to use Vastera's TradeSphere software globally.