Today, we are pleased to announce the merger of Trax Technologies and Veraction. The merger brings together the two leading providers in the freight audit and transportation spend management industry and creates a clear leader and long term partner for you and all of our customers.
The combination of Trax and Veraction is a true merger of equals; this was not an acquisition by either company.
Both our companies have rich and long legacies in the freight audit and bill payment space and more recently have been on similar paths to challenge industry norms and transform the way traditional freight audit is delivered by leveraging new SaaS based technologies and robust data analytics. We have both been on a mission to deliver next generation solutions for our customers to help them manage and control their transportation spend. Our merger is going to help us deliver on that mission.
We both believe that this merger will be a great outcome for all of our customers. The combined company is now the largest private provider of freight audit and transportation spend management solutions. With over $10B in transportation spend under management, a strengthened global presence, deep domain expertise and a commitment to continued innovation, our company is the right long term partner for our customers.
As the market leader, we pledge our continued commitment to enabling your success and delivering the benefits we expect from this merger:
Continued Solution Innovation
The combined company is committed to an aggressive roadmap of continued innovation for our customers. Whether it’s our core freight and parcel audit and bill payment platform or our robust transportation spend analytics solutions, as a combined company we have the resources to continually invest, develop and deliver best in class solutions to you.
The combination of Trax and Veraction provides substantially deeper global coverage and we are committed to leveraging it to serve our customers. We are dedicated to helping our customers bring all of their transportation spending under one umbrella, allowing it to be better managed.
We intend to leverage our size and scale to improve our overall delivery to customers. We now have a level of resources that simply do not exist elsewhere in the market. The combined company will deliver improved uptime and system responsiveness, a higher level of security and compliance, and overall increased quality to better serve our clients.
In the coming weeks and months, our combined team will be working on the integration of both companies. Throughout this process, we will keep you apprised every step of the way. As we work to deliver the value of the combined companies, we are equally as focused on protecting the level of service we deliver today. We will ensure there is no disruption to your current level of service. As we approach the new year, plans will be finalized to deliver a single standard platform for all customers.
We are excited about what this combination means for you and what it means for the industry at large. We intend to “raise the bar” for the freight audit and transportation spend management industry and deliver increased value for all customers. Your confidence in us over the years as a partner is appreciated and we are committed to leveraging this merger to create great outcomes for you in the years ahead.
It’s a new day!
Don Baptiste Chris Connell