(Uber) Uber Freight has agreed to acquire Transplace for about $2.25 billion. The deal consists of $750 million common stock of Uber Freight’s parent company.
The acquisition, which is still subject to regulatory approval, seeks to create a leading logistics technology platform in the world.
The deal occurs at a time of increased logistic transformation, ending industry age technologies, amid rising transportation costs and capacity constraints.
Transplace CEO Frank McGuigan expects shippers to enjoy more efficiency and transparency following the acquisition by Uber.
Transplace was bought by TPG Capital in 2017 and has invested strongly in technology and growth initiatives to boost high quality and customizable supply chain solutions.
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