Freightos, a Hong Kong-based logistics technology company that provides cloud-based shipping software and an online freight marketplace, has acquired WebCargoNet, a Spain-based logistics technology provider.
WebCargoNet maintains a database of global air-freight rates, allowing Freightos to list a wider variety of routes and modes of transportation in its marketplace, according to The Wall Street Journal.
In announcing the acquisition, Freightos noted in a blog that its focus has been on the shipper-forwarder relationship, both through AcceleRate, which provides multimodal freight rate management and door to door freight quoting, and through the recently released online freight marketplace. WebCargoNet’s focus has been more on the carrier-forwarder relationship and has also placed more focus on air freight.
Beyond breakneck growth, both companies share a number of similarities. Both focus on optimization of pricing and routing with powerful, big data technology.
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