The company’s acquisition of Transplace positions Uber Freight as a “leading logistics technology platform,” a news release reads. It will enable Uber Freight to expand operations into Mexico and fast-track its path to profitability.
With Transplace, Uber Freight was described in the statement as one of the largest transportation and logistics networks in the world, and will boost shipping efficiency.
“This is an opportunity to bring together complementary, best-in-class technology solutions and operational excellence from two premier companies to create an industry-first shipper-to-carrier platform that will transform shippers’ entire supply chains,” Head of Uber Freight Lior Ron said in the release.
Transplace will be acquired from TPG Capital, who has owned Transplace since acquiring the firm in 2017. Transplace invested heavily in supply chain technology through that time, the company said.
The transaction is pending regulatory approval and other customary closing conditions.