Uber Freight is set to acquire logistics technology provider Transplace for $2.25bn to support a combined freight technology operating system.
Uber Freight will acquire Transplace from TPG Capital, the private equity platform of alternative asset firm TPG.
In the midst of global capacity constraints and increasing transport costs, shippers are adapting their operations more quickly and are looking for technology, support, and solutions that can modernise their supply chain and keep critical goods moving.
Lior Ron, Head of Uber Freight said: “This is an opportunity to bring together complementary best-in-class technology solutions and operational excellence from two premier companies to create an industry-first shipper-to-carrier platform that will transform shippers’ entire supply chains, delivering operational resilience and reducing costs at a time when it matters most.”
Frank McGuigan, CEO of Transplace added: “Our expectation is that shippers will see greater efficiency and transparency and carriers will benefit from the scale to drive improved operating ratios. All in all, we expect to significantly reduce shipper and carrier empty miles to the benefit of highway and road infrastructures and the environment. Finally, we want to thank TPG for their partnership as we have worked together to position Transplace as a leader in supply chain innovation.”
