We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Avetta expands supply chain risk management tools into Australia

Avetta expands supply chain risk management tools into Australia

Utah company leverages venture capital backing to acquire Pegasus.

avetta-Screen-Shot-2021-07-19-at-1.54.03-PM.png
July 19, 2021
Supply Chain Quarterly Staff
No Comments

The venture capital-backed tech firm Avetta will expand the market for its supply chain risk management software tools into Australia and New Zealand, having won regulatory approval today for its takeover of a local firm.

Orem, Utah-based Avetta will acquire Newcastle, New South Wales, Australia-based Pegasus, which provides worker competency management software and services.

Terms of the deal—which was first announced in May—were not disclosed, but the companies said that Pegasus CEO Adam Boyle will join the investment firm Accel-KKR as “equity investors” in Avetta. In addition to those stakes, the company is majority-owned by the private equity firm Welsh, Carson, Anderson & Stowe with additional investments from Technology Crossover Ventures and Norwest Venture Partners.

The move marks the latest logistics tech investment by Accel-KKR, which in May acquired fleet management software vendor GPS Insight and announced plans to merge it with two other transportation technology firms it already owned; InSight Mobile Data (IMD) and Rhino Fleet Tracking. Also, Accel-KKR in 2020 bought logistics connectivity provider TrueCommerce, the yard management software vendor Pinc Solutions, rail industry software solution provider RailcarRx, and the transportation management system (TMS) software vendors ShipperConnect and ShipXpress.

According to Avetta, the new combination will create the sector’s largest provider of supply chain risk management and compliance solutions, with nearly 170,000 suppliers and 4 million managed workers.

Avetta says its technology platform helps companies manage risk and build resilience in their supply chains – from increasing visibility within the network to ensuring safety and sustainability. The company also provides suppliers and contractors with discounts on insurance and safety-related products and services. With Pegasus technology, Avetta says it also now offers worker competency management, induction and learning management, supplier prequalification, site access, and asset management.

Our acquisition of Pegasus is complete! We are excited to welcome Pegasus customers and employees to Avetta and look forward to combining our efforts to improve safety, sustainability, and worker management.#teamwork #OneAvettahttps://t.co/uc76IbZtNr pic.twitter.com/zIMCEM9YGn

— Avetta (@AvettaNews) July 19, 2021
Logistics Services Technology
KEYWORDS Accel-KKR Avetta
    • Related Articles

      Supply Chain Risk Management Platform by Avetta, LLC Now Available on SAP® Store

      Avetta Virtual Event Gathers High-Profile Supply Chain Experts to Reevaluate Risk Management

    Recent Articles by Supply Chain Quarterly Staff

    Investors predict rising business in rail freight

    Manufacturing, B2B ready for AI overhaul

    FTR: trucking conditions remained in “solidly negative territory” in July

    You must login or register in order to post a comment.

    Report Abusive Comment

    Most Popular Articles

    • Positive drug tests in U.S. workforce rise to 20-year high as marijuana is legalized

    • Wabash opens trailer manufacturing facility in Indiana

    • Six defining challenges of omnichannel fulfillment

    • Postal advocacy group says “excessive” July 9 stamp price hike will hurt consumers

    • CPKC and CSX buy rail assets from Genesee & Wyoming

    Featured Video

    8757b894 244c 4429 b5d8 e6df7b479d82

    Penalties for Wood Packaging Material Violations

    Viewer Contributed
    Our Services Include: Customs Broker Denver Freight Forwarder Denver Global Logistics Denver Cargo Insurance Denver Customs Bond Denver Customs Clearance Denver Customs Duty Denver Isf Filing Denver More details: Phone : 281-445-9779 Email: info@gallaghertransport.com Website: gallaghertransport.com

    FEATURED WHITE PAPERS

    • Five questions to ask before electrifying your indoor forklift fleet

    • Operator assist system myths busted

    • Three layers of forklift safety: Promoting operating best practices

    • The Complete Guide to Automated Packaging

    View More

    Subscribe to Supply Chain Quarterly

    Get Your Subscription
    • SUBSCRIBE
    • E-NEWSLETTERS
    • ADVERTISING
    • CUSTOMER CARE
    • CONTACT
    • ABOUT
    • STAFF
    • PRIVACY POLICY

    Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing