SCHNEIDER LOGISTICS ACQUIRES TRANZACT SYSTEMS
Schneider Logistics, a subsidiary of Schneider National Inc., has acquired the freight payment services of Tranzact Systems Ltd., a freight payment business that processes more than $4 billion in payments a year.
The company will be named Tranzact Payment Services. Terms were not disclosed.
With the purchase, Schneider said it's the first in the logistics industry to create a stand-alone freight payment business unit which allows customers to purchase freight payment and audit as a separate service.
Tranzact has about 300 employees and will maintain its operations in Homewood and Sugar Grove, Ill.