Logistics.com Sold to Manhattan Associates

Manhattan Associates Inc., Atlanta, Ga., has signed a letter of intent to acquire the assets of Logistics.com Inc., Burlington, Mass.

Manhattan Associates provides logistics technologies to major shippers. Logistics.com provides online markets and transportation technology to both shippers and carriers.
According to a spokesman, Logistics.com will continue to operate from its Massachusetts headquarters and no lay-offs are planned, at least initially. Manhattan Associates will continue to market Logistics.com?s trucking-specific products, such as Opti-Yield and Drop & Swap.
Logistics.com was launched with much fanfare in January of 2000 by M.I.T. professor Yossi Sheffi, who started up a logistics software company called PTCG in the 1980s. Sheffi sold PTCG to the Sabre Logistics Group in 1996, then bought it back to repackage it as Logistics.com -- a coveted Web address during what is now called the "Internet Bubble."
Logistics.com promised "a new era of freight transportation" and was expected by some to provide a lucrative IPO (Initial Public Offering). Sheffi hired former Schneider COO John Lanigan as president and COO of Logistics.com in March of 2000, just as the Internet Bubble burst and U.S. stocks plunged. Logistics.com never released operating figures, but Lanigan often admitted that profitability remained elusive. In December of 2000, Sheffi stepped down as Logistics.com CEO. Lanigan took his place.
At its launch, Logistics.com announced it was funded by $30 million from the Internet Capital Group, which later invested an additional $25 million or more. According to Manhattan Associates, Logistics.com will be acquired for about $20 million.
"We are extremely pleased about the opportunity to join a proven leader in
the supply chain execution space," said Lanigan, chief executive
officer of Logistics.com. "We believe our people, products and customers
will enhance Manhattan's leadership position."