E2open expands e-commerce parcel shipping power with $185 million move to acquire Logistyx Technologies
Deal follows $1.7 billion deal to buy BluJay Solutions for its TMS and GTM software in 2021.
Supply chain management software vendor E2open Parent Holdings Inc. has acquired the parcel shipping and fulfillment technology firm Logistyx Technologies for $185 million, in response to soaring demand by companies for better e-commerce shipping capabilities.
Austin, Texas-based E2open said the deal enhances its global footprint for multi-carrier e-commerce shipment management. The move will also expand E2open’s reach by adding Logistyx’ customers, which include retailers, manufacturers, and logistics providers.
Chicago-based Logistyx currently provides that client base with “the automation, visibility and flexibility needed to simplify global fulfillment and compete in an omnichannel world – all within a one-stop, connected platform,” Logistyx CEO Geoffrey Finlay said in a release.
The news marks E2open’s latest maneuver to adjust to swiftly changing conditions in the logistics sector, following its move in January to collaborate with logistics tech firm PayCargo to expedite the freight payments process between supply chain trading partners by digitizing outmoded processes like exchanging paper checks. And in 2021, E2open laid out $1.7 billion to acquire fellow supply chain software vendor BluJay Solutions and its transportation management system (TMS) software and global trade capabilities.
According to E2open, its acquisition will help it meet growing client business needs. “This combination makes E2open the most comprehensive and integrated shipping solution provider, which covers all shipping modes including ocean, air, road, rail, and parcel, and is powered by a global network of carriers and logistics service providers,” E2open CEO Michael Farlekas said in a release. “Logistyx is complementary to E2open’s existing platform, enabling E2open’s world-class clients to orchestrate their supply chains from demand to fulfillment, to supply.”
E2open is pleased to announce the acquisition of Logistyx Technologies, a leader in global parcel and e-commerce shipping. Read the #pressrelease: https://t.co/GVtdtWoE3w pic.twitter.com/YJDZ2iNpNq
— E2open (@E2open) March 3, 2022