Vastera becomes JP Morgan unit
J.P. Morgan Chase finalized its purchase of Vastera, the Dulles, Va.-based provider of automated trade management and customs tools, and trade consulting services provider, on Friday.
Vastera will become part of JP Morgan’s Trade Services business unit that provides information management and financial services to international traders. The new business line will be known as JP Morgan Chase Vastera.
The financial services giant struck a deal to buy Vastera in early January for $129 million. Vastera shareholders will receive $3 for each share of stock they own.