acquisition

I.D. Systems, Inc., a provider of wireless systems for managing industrial vehicle fleets, has rebranded to become PowerFleet, Inc. after completing the acquisition of Pointer Telocation on Oct. 3.  The Woodcliff Lake, N.J.-based company, PowerFleet  (NASDAQ: PWFL), said it expects the rebranding...

After 11 autopilot engineers left Tesla Inc (NASDAQ: TSLA) in May amid department restructuring, Tesla found itself in need of new software talent.  On October 1, CNBC reported Tesla would acquire of Deepscale, a Silicon Valley, California-based startup that will help actualize Tesla CEO Elon Musk...

Kriska Transportation Group has acquired two small fellow Canadian carriers, Trailwood Transport and Nexus Freight, expanding its automotive and local truckload businesses. Kriska, which is partially owned by Mullen Group (TSX:MTL), announced the acquisitions on October 2. It did not disclose the...

Amazon.com, Inc. (NASDAQ: AMZN) recently acquired cloud-based startup INLT, a move designed to simplify importing goods into the United States for Amazon's online merchants, according to Reuters. INLT, which the company said stands for IN:LET, makes software for merchants to manage the costs of...

Independent infrastructure manager Ancala Partners has completed the acquisition of a 45% interest in Liverpool John Lennon Airport for an undisclosed sum on behalf of its funds. London-based Ancala focuses on mid-market infrastructure investments.  Institutional investors are under pressure to...

German logistics startup sennder had acquired Spanish competitor Innroute, expanding its  European digital freight-forwarding platform after raising more than $100 million in 2019.  The Berlin-based firm announced the acquisition on Linkedin on September 25. Terms were not disclosed. "We are...

Allcargo Logistics, one of India's largest shipping and port logistics companies, is in talks with Indian express logistics firm Gati, as reported by Bloomberg. Allcargo operates over 300 offices across 160 countries and provides services in a multitude of port-related operations including...

Urban congestion remains an annoyance to the traveler and a grief to the environment. BlaBlaCar, a Paris-based online carpooling platform, has just offered to acquire Busfor, which would be its second bus fleet acquisition in 2019. Busfor is the leading bus-ticketing platform in Russia, Poland and...

Radiant Logistics, Inc. (NYSE: RLGT) reported several records for fiscal 2019, including a 15% increase in net revenue, an 80% jump in adjusted net income and a 40% improvement in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). "We are very pleased to report...

Shopify (NYSE: SHOP), which offers commerce platforms for both traditional and e-commerce retailers, will acquire 6 River Systems as a means to increase fulfillment efficiency in Shopify warehouses. The acquisition will take place in the final quarter of 2019. The Ottawa-based e-commerce giant is...

Cummins Inc. (NYSE: CMI) closed its $290 million acquisition of Canadian fuel cell and hydrogen production technologies provider Hydrogenics Corp.(NASDAQ: HYGS) on Monday, Sept. 9.  It is the second major investment in fuel cell technology for commercial vehicles in a week. On Sept. 4, United...

Allison Transmission Holdings Inc. (NYSE: ALSN) is paying $103 million to acquire two suppliers of critical components to its automatic transmissions, the company said Monday, Sept. 9. Walker Die Casting Inc., located in Lewisburg, TN, has supplied aluminum castings to Allison's core on-highway...

CMA CGM Group, the parent of French container carrier CMA CGM, said it had adjusted earnings before interest, taxes, depreciation and amortization of $954 million in the second quarter of 2019 compared to $214.6 million in the same period last year. (This is before gains or losses on disposal of...

FedEx Corp. (NYSE: FDX) said Aug. 29 that it acquired Cargex S.A., a Colombian air freight forwarder that specializes in perishables exports, and Agencias de Aduanas Aduanamos S.A. Nivel 2, a Cargex affiliate and a customs broker. Terms of the transaction were not disclosed. The acquisition...

OmniTRAX is acquiring shortline railroad assets in northern Ohio, enabling the privately held company to expand its access to the Port of Cleveland. An OmniTRAX affiliate and an affiliate of the Broe Group have agreed to acquire the Cleveland Commercial Railroad Group (CCRL) and its subsidiary,...