SINGAPORE (Apr 18): Integrated e-trade solutions provider vCargo Cloud (VCC), a portfolio company of DeClout, is acquiring a 60%-stake in Indonesian integrated logistics player PT Gatotkaca Trans Systemindo (GTS) for US$0.85 million ($1.1 million).

As part of the payment terms, VCC will also loan US$545,000 to GTS.

In a Tuesday filing, VCC says that through GTS, which is based in Jakarta and provides a suite of logistics services such as trucking as well as freight and forwarding services, the company intends to accelerate its efforts to automate customs declaration in Indonesia.

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