PE-backed Trax and Veraction merge

Acquisitions

▤ Summary

The combined business will offer customers a single global technology platform across all shipping modes and a leading suite of transportation spend management analytics.Chris Connell, former CEO of Veraction, leads the combined company as CEO of Trax Group Inc. Trax Group will be the most capable freight audit and payment company in the world delivering a state of the art technology platform including advanced analytics to help customers manage and control their transportation spending with precision.“This combination brings together the two clear leaders in this industry with rich legacies, innovative solutions and deeply talented teams with an intense customer focus.Don Baptiste, CEO of Trax, added, “The combined company will provide best in class logistics experience and innovation to our clients and unparalleled opportunity for our employees.Spire Capital leads buyout investments in its areas of expertise and believes its deep industry experience and network of relationships are invaluable in helping its portfolio companies to grow and create value.

▥ Classifications

industries
Retail
applications
Accounting and Taxes

◇ AskAI Classifications

Labels
Supply Chain Management Software AI-powered Spend Management Freight Audit Software

▦ Linked Companies

Trax Technologies
$10M to $25M