A provider of electronic revenue cycle, document management and invoicing services to the transportation industry, Pegasus TransTech, has acquired TripPak Services and ACS Advertising from Xerox.
TripPak is a provider of transportation services including document capture, submission and workflow management, as well as safety and compliance products and services. ACS Advertising is a driver recruitment advertising agency in the transportation market, serving a number of trucking fleets.
Terms of the deal have not been released.
The combined company now serves over 3,000 truck fleets and third party logistics customers.
Pegasus TransTech partners with the majority of major U.S. and Canadian truck stop operators to provide document capture and transmission services and TripPak adds 500 additional truck stop locations as well as a network of 1,200 drop boxes for document submission.
“We are excited about the opportunity to join forces with TripPak and ACS Advertising and offer solutions that range from mobile document management to truck stop scanning and drop boxes,” said Frank Adelman, president and CEO of Pegasus TransTech. “We will now be able to pool our resources and accelerate the pace of new product development. Together, we will enable truck fleets and drivers to capture revenue more quickly, gain greater visibility into revenue management processes and comply with regulatory requirements more efficiently.”
In 2009, Xerox purchased Affiliated Computer Services in a $6.4 billion deal that included TripPak and ACS Advertising.
Pegasus TransTech was started in 1998 and currently provides document capture and transmission, billing, collections, payroll, and other revenue cycle processes for the transportation and logistics industry. The company said it serves more than 900 travel centers in North America, 42 of the top-50 truckload carriers, and 17 of the top-30 freight brokers, and over 350,000 drivers.