Transplace, a provider of transportation management services, recently acquired Lanehub, a cloud-based platform and community that encourages shipper-carrier collaboration by automatically identifying and connecting companies with complementary freight lanes to save on shipping expenses.
The software focuses on matching recurring freight lanes on a consistent basis, in an effort to reduce transportation cost, increase fleet revenue, and improve overall carrier service and performance.
Lanehub’s collaboration network currently includes more than 150 shipper members, 250 carrier members, 180,000 lanes, and more than $23 billion in truckload spend. To date, Lanehub customers have 26 million matches within its network. The acquisition is effective immediately, and benefits both Transplace’s and Lanehub’s customers by giving them access to transportation technology and strategic management through the resources of the newly combined organization, Transplace said.
“This is a major milestone for our company because of how much more we can do as part of Transplace, a true leader in the global logistics industry,” said Mark Hackl, founder and CEO of Lanehub. “With an industry-leading technology platform and $9 billion in freight under management, Transplace opens the door to an unrivaled network of carriers and shippers for unsurpassed freight lane collaborations and transportation cost reductions. We have high expectations about the opportunities ahead for our teams and customers as we join the Transplace organization.”
Frank McGuigan, chief executive officer of Transplace, said the acquisition strengthens the company’s ability to offer the most advanced technologies that provide customers with a competitive advantage.
“Lanehub’s customer base and experience in the consumer-packaged goods, food, retail, manufacturing and automotive industries are highly complementary to our business,” McGuigan said. “By joining our software solutions, we can create incredible opportunities to connect and convert traditional one-way moves into more collaborative round trips, significantly reducing empty miles and poor asset utilization. Unifying our teams and technologies is a win for all involved.”