Transplace, a third-party logistics provider with a focus on technology and data, is upping its game with the acquisition of Lanehub, a cloud-based platform that makes it easier for shippers and carriers to collaborate.
Lanehub automatically identifies and connects companies with complementary freight lanes, which helps shippers save on expenses and carriers improve revenue and utilization. As opposed to the short-term transactions seen in digital freight-matching and the "uberization" of trucking, Lanehub is designed to foster long-term partnerships.
An HDT Top 20 Products winner for its Backhaul Assist announced in 2018, Lanehub's collaboration network currently includes more than 150 shipper members, 250 carrier members, 180,000 lanes, and over $23 billion in truckload spend. To date, Lanehub customers have 26 million matches within Lanehub’s network.
The Transplace acquisition will allow that to expand significantly.
“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.”
“The strategic acquisition of Lanehub reinforces our mission to offer our customers the most advanced technologies, giving them a competitive advantage in the marketplace,” said Frank McGuigan, chief executive officer of Transplace.
“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,” McGuigan explained.
He also noted that Lanehub’s customer base and experience in the consumer-packaged goods, food, retail, manufacturing, and automotive industries are complementary to Transplace’s existing business.