Cass Information Systems announced Thursday the acquisition of Acuitive Solutions’ freight audit platform for ocean, air and drayage shipments.
The AcuAudit platform is an extension of Chattanooga, Tennessee-based Acuitive Solutions’ supply chain software offering. The fully automated platform validates and rerates invoices, ensuring freight bills are correct.
Financial terms of the transaction were not provided.
“Today, with a best-in-class solution for every mode as well as full global coverage, Cass offers the most robust freight audit and payment offering worldwide,” said Tony Urban, president of Cass’ freight audit and payment group, in a news release. “We are the sole global provider for large shippers with complex transportation operations across all modes.”
Acuitive Solutions will continue to be led by its president and co-founder, Phil Marlowe. The company will remain primarily engaged in shipment routing and multicarrier parcel solutions.
“I am excited for AcuAudit to become a part of Cass as I’ve always wanted our vision to endure and thrive beyond me,” Marlowe said in the release while touting the benefits of AcuAudit’s platform being integrated with Cass.
Marlowe will continue to provide strategic expertise to Cass.
St. Louis-based Cass (NASDAQ: CASS) is a payments and audit company. It processes $90 billion in annual payments, including nearly $40 billion in freight payables.
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