Archives
Business, Feature, Freight News, Logistics
NFI Buys Transfix’s Brokerage Business
[ June 19, 2024 // Gary G Burrows ]Supply chain solutions provider NFI said it has acquired the freight brokerage operation of Transfix, a digital freight platform.
Transfix will pivot its core business to solely focus on software and data solutions for brokers, shippers and carriers, with NFI to be the first third-party customer to utilize Transfix’s TMS.
NFI said Transfix will help strengthen carrier and customer interactions and offer more robust brokerage solutions, coupled with NFI’s existing in-house technology. In addition, NFI will add over 15,000 carriers to its already extensive carrier network.
“Their experienced team provides an exceptional solution that aligns well with our strategy,” said Sid Brown, CEO of NFI. “NFI can leverage its scale and offer its existing service offerings of dedicated transportation, warehousing and distribution, and port services to the Transfix customer base.”
Transfix, established in 2013, was the first tech-powered brokerage, according to NFI. Transfix Intelligent Freight Platform, a TMS with cutting-edge technology that utilizes automation and machine-learning to drive processing costs significantly below industry standards, has helped power the logistics networks of retailers, consumer brands, manufacturers and logistics companies.
By divesting its freight brokerage operation, Transfix will focus entirely on taking its technology to market as a SaaS and data solutions provider that addresses the distinct needs of brokers, shippers, and carriers.
“We believe the Transfix TMS will be a game changer for us,”
“This acquisition and ongoing partnership are a great opportunity to accelerate our digital approach while combining our operational strength with their technical expertise to create more value for our customers and carriers,” said David Broering, President of Integrated Logistics Solutions at NFI.
The newly launched Transfix organization will initially go to market with an expansive SaaS feature suite designed to bring operational efficiency and transparency to various stages of the truckload lifecycle for freight brokers, shippers, and carriers, and to deliver significant reduction in processing cost.
“As someone who grew up in the brokerage business, I am thrilled about the next chapter at Transfix,” said Drew McElroy, Transfix co-founder and chairman.
Camden, New Jersey-based NFI generates more than US$3.6 billion in annual revenue and employs more than 17,250 associates. NFI owns and operates more than 70 million square feet of warehouse space alongside a dedicated fleet of 4,900 tractors and 13,700 trailers.
