Flexport is acquiring Crux Systems, an advanced technology solution for tracking ocean containers. The acquisition will accelerate the automation of Flexport's shipment tracking capabilities, upgrading the track and trace data that powers freight-forwarding services.
Crux Systems helps importers, exporters, port terminals and trucking companies gain real-time visibility into the location and status of containerized cargo. The company's shipment data informs supply chain planning by driving actionable insights that can reduce dwell times, demurrage fees and hours spent tracking containers.
"When we founded Crux Systems, we saw an opportunity to improve global logistics by solving the difficulties of accessing container information and getting real-time visibility into what's happening with your shipments," says Crux Systems CEO Eric Klein. "Joining Flexport enables us to leverage expertise, infrastructure, and technology to further build out a world-changing track and trace service.''
With the acquisition, Flexport can incorporate Crux Systems' track and trace technology into its platform, which is used by nearly 10,000 shippers and suppliers. Clients will get more accurate, more timely visibility into their shipments, including cargo location, time stamps and completion of major delivery milestones.
"Making the measurement of on-time performance more scientific and objective will allow us to align incentives with our customers and operate with real skin in the game. Integrating Crux Systems technology and expertise natively into the Flexport platform will take us one step closer to a world where the service levels of freight forwarders are performance-driven and clearly measurable," says Ryan Petersen, CEO of Flexport.