The combined companies will continue to operate under the Trax name and will manage more than $10 billion in logistics spending for over 300 customers.
Chris Connell, former CEO of Veraction, will head the combined company as CEO of Trax Group Inc.
“The combined company will have the resources to deliver innovative new products and more comprehensive capabilities at a faster rate than either company would have been able to achieve on its own,” said Bob Morse, chairman of Trax Technologies, in a statement.
Financial terms of the merger were not disclosed.
Torch Partners acted as financial adviser to Strattam Capital and Trax Technologies, while Wilson Sonsini Goodrich & Rosati served as legal adviser to the two companies. Dentons US acted as legal adviser to Spire Capital Partners and Veraction.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now