Trax Technologies and Veraction managing more than $10 billion in logistics spend for over 300 customers.
Freight spend and auditing firms Trax Technologies and Veraction have merged their operations.
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.
Freight spend managers merge
