Uber Freight to acquire Transplace
Summary
The move merges Ubers digital truck broker platform with software that helps customers bring freight to market. As the industry struggles with capacity issues, rising costs and other volatile market headwinds, transportation companies are adjusting their operations and looking for technology and support for their supply chains. The $2.25 billion deal, expected to close later this year, will be paid with a mix of stock owned by parent company Uber Technologies worth $750 million, and cash. "Its pretty clear that that fondness for that Transplace business model, that Greenbriar very well understood as they sold it back in 2017 to TPG, is something that maintains some level of intensity and interest and now has manifested itself in this really remarkable deal," Abernathy said. Transplace, based in Frisco, Texas, is responsible for one of the largest managed transportation and logistics networks, overseeing more than $11 billion of freight and 62,000 users, according to its website.