XPO Logistics has entered into a definitive agreement with Landstar System to acquire NLM for $87 million. The transaction is expected to close by mid-January 2014.
The deal will add NLM’s proprietary online auction system, which allows carriers to bid on loads that are then awarded electronically, to XPO’s transportation management capabilities.
“The addition of NLM, the largest web-based expediter in North America, will give us an entry into managed transportation — an area of logistics that has been of keen interest to us for some time. We’ll use NLM to build on our position as a top-five expediter by providing customers with precise, web-based capabilities for the bidding, scheduling, shipping and tracking of freight. With the close of this transaction, we’ll be facilitating more than 20,000 deliveries a day company-wide,” said Bradley Jacobs, chairman and chief executive officer of XPO Logistics.
XPO Logistics to acquire NLM
