INTTRA, the world’s leading ocean shipping network and software provider, has been acquired by logistics and supply chain company E2open.
According to a statement by INTTRA, the two companies will join efforts to create a unified global logistics and supply chain network, streamlining the flow of information between manufacturers, suppliers, shipping service providers, and ocean carriers.
E2open is the largest cloud-based provider of networked supply chain solutions, offering a portfolio of applications to facilitate improved planning, collaboration and end-to-end solutions.
Partnered with 70,000 companies worldwide, E2open works with many of the biggest brands and manufacturers across a range of industries.
The acquisition of INTTRA, which books one out of every four ocean containers shipped globally through its platform, will extend E2open’s current logistics capabilities, which consist of transportation management, logistics visibility, and transportation forecasting.
Inna Kuznetsova, Karim Jumma and Peter Spellman, of INTTRA, discuss how AI can power growth in a recent Port Technology technical paper
E2open, with the support of INTTRA, will offer deep integrations with logistics service providers, from third-party, fourth-party, freight forwarders and carriers servicing all modes of transportation.
The synergistic integration of the two companies is also expected to accelerate new product introductions, E2open and INTTRA planning to leverage their combined technology and research and development capabilities.
John Fay, CEO of INTTRA, said: “E2open and INTTRA have a similar consortium heritage and culture – both were born to solve similar problems for their respective ecosystems, to improve efficiencies, overcome data exchange constraints, and reduce the friction associated with doing business.
“In joining forces with E2open, a company that shares our values and understands the benefits of global business networks, we envision a single platform with accelerated innovation to connect, streamline, and operate all aspects of global manufacturing, logistics, and distribution, resulting in immediate benefits for all stakeholders.”
Michael Farlekas, CEO of E2open, also commented: “The combination provides value to all stakeholders – manufacturers, logistics service providers, freight forwarders and ocean carriers.
“We aim to bridge the gap between manufacturing and logistics with execution capabilities on a unified platform with real-time end-to-end visibility.
“Shippers will be able to better leverage ocean shipping efficiency, ocean carriers will be able to improve customer experience, and freight-forwarders will be more effective in multi-modal and integrated logistics operations to help grow their respective businesses.”
The transaction is expected to close by year-end 2018 after receipt of regulatory approval.