Nashville,Tennessee-primarily primarily based FreightWise has received transportation administration machine tool supplier Kuebix from Trimble Inc.
The acquisition changed into presented Thursday and springs gorgeous over a yr after Trimble presented it changed into shutting down Kuebix as the firm pivoted to one other platform.
FreightWise CEO Chris Cochran acknowledged as soon as he heard the news that Trimble changed into sunsetting Kuebix, he changed into attracted to shopping the TMS supplier, which as soon as had one amongst the largest linked transport communities in North The US on its cloud-primarily primarily based platform.
“What attracted me to it’s that it’s a huge label and a huge application that indubitably stood as a lot as a spacious series of shippers,” Cochran urged FreightWaves. “They grasp an extremely factual presence within the tiny and midsize (SMB) shipper enterprise market, and so that they also grasp an emerging presence within the immense shipper market.”
FreightWise is a logistics know-how firm founded in 2014 by Cochran and Alex Rustioni. The platform objectives to relief agencies streamline freight processes and assign money by combining their provider volume and relationships to scale support freight charges.
FreightWise’s level of curiosity contains parcel, less-than-truckload, truckload and global freight modes.
The acquisition of Kuebix is a strategic step for FreightWise because it appears to be like to attend a noteworthy broader spectrum of customers with diverse provider devices. Cochran acknowledged Kuebix’s presence within the market and its rising immense shipper buyer heinous is a a part of what made the acquisition a factual match.
“[Kuebix’s clients] are a diminutive bit little bit of a distinct client profile than what FreightWise in most cases has and manages interior our portfolio,” Cochran acknowledged. “We were attracted to Kuebix which ability that of no longer most effective is it a huge application, with their customers, it indubitably permits us to grasp extra merchandise and a noteworthy broader vary to present to the marketplace.”
Kuebix changed into founded in 2008 by Dan Clark in Maynard, Massachusetts. Present chain know-how supplier Trimble (NASDAQ: TRMB) received Kuebix for $200 million in 2020, with the purpose of connecting its provider prospects to Kuebix’s network of upper than 21,000 transport companies.
In September 2022, Trimble acknowledged it would conclude Kuebix by the tip of 2025 because it pivots to Have interaction Lane, a recently launched transportation procurement platform.
Trimble presented in February that FreightWise changed into one amongst 5 companies chosen as most popular begin partners to relief its Kuebix customers transition to a recent TMS supplier. Diverse TMS companies chosen incorporated Shipwell, MyCarrier, PCS Software program and 3GTMS.
“They wanted to present a handful of companies that they’ve performed a diminutive bit little bit of due diligence on as a cruise route, a truly straight forward route to dawdle off of Kuebix,” Cochran acknowledged. “We were on that list as a core SMB TMS, thru due diligence that their group did with our group. We’d already had a relationship sooner than that, however these conversations led to the acquisition.”
The integration of Kuebix into FreightWise is slated to begin at as soon as, and the transfer of Kuebix operations and customers will be seamless and no longer affect day-to-day operations, Cochran acknowledged.
Kuebix will grasp its name below FreightWise.
While the preference of shippers within the Kuebix network has declined from two years ago, the TMS is tranquil offering solutions to a sturdy buyer heinous on its platform and has room for extra innovation and stutter, Cochran acknowledged.
“There’s tranquil over 1,000 shippers active on the application. If you mix that with the consumers that FreightWise has on our indulge in TMS, which is incessantly a managed provider TMS, it makes us one amongst the tip TMS platforms within the country,” Cochran acknowledged. “We’re in fact livid for the acquisition.”
Cochran would no longer advise how noteworthy FreightWise paid for Kuebix however acknowledged it changed into no longer as a lot as Trimble paid for the firm.
Click for extra FreightWaves articles by Noi Mahoney.
More articles by Noi Mahoney
5 takeaways from XPO’s Brad Jacobs at Future of Freight Competition
Convoy’s crumple, legacy tied to ushering tech into volatile freight markets
Trimble’s transportation earnings jumps 35% in Q3
F3: Future of Freight Competition
NOVEMBER 7-9, 2023 • CHATTANOOGA, TN • IN-PERSON EVENT
The second annual F3: Future of Freight Competition will be held in Chattanooga, “The Scenic City,” this November. F3 combines innovation and leisure — that contains stay demos, enterprise experts discussing freight market traits for 2024, afternoon networking events, and Grammy Award-a success musicians performing within the evenings amidst the cool Appalachian tumble weather.
