Trimble has agreed to acquire Transporeon, a cloud-based transportation management software platform, in an all-cash transaction valued at €1.88 billion (almost $2 billion USD).
According to a release, Transporeon's software platform provides modular applications that power a global network for 145,000 carriers and 1,400 shippers and load recipients with an integrated suite of best-in-class sourcing, planning, execution, monitoring, and settlement tools.
Trimble will acquire Transporeon from Hg, a leading software and services investor and current majority shareholder in the business. Transporeon's open platform integrates with more than 3,000 global ERP and transportation management systems, enabling a dense network to facilitate more than 25 million on-platform transports in 2022.
Who is Transporeon?
Transporeon helps customers increase competitiveness, lower costs, reduce waste, and solve complex freight problems through automation, real-time insights and network participation.
"Transporeon is a leading market player with a large TAM, profitable growth and a platform focused on connected supply chain infrastructure, all of which are highly aligned with Trimble's Connect & Scale strategy," said Rob Painter, CEO of Trimble. "Under the leadership of Stephan Sieber and the talented management team, Transporeon has exhibited rapidly increasing network density and an accelerating customer adoption curve. Its solutions are deeply integrated with carriers and shippers, and we are confident the platform will play an increasingly important role in the modernization of supply chains globally. We look forward to working together to enhance and expand on the company's significant growth trajectory, and to offer enhanced TMS platform solutions to Transporeon customers in Europe and to Trimble customers in the North American market."
While Transporeon operates predominantly in Europe, it also operates in developed markets across the Americas and Asia.
"I am incredibly proud of our team's dedication and commitment, which has culminated in this exciting transaction," said Stephan Sieber, CEO of Transporeon. "We have built a remarkable platform and sustained profitable growth to become a leader in this attractive market. This transaction will give us the runway to take what we have created to the next level by uniting our powerful European platform with Trimble's North American carrier-focused platform. I'm excited to be part of the Trimble team for this next phase of growth."
According to Transporeon, its platform and network enables 145,000 carriers and logistics service providers and 1,400 shippers and load recipients to managing approximately €48 billion ($51+ billion USD) of freight spend and over 25 million transports each year. Network participation has grown continuously over 15 years and the platform integrates with more than 3,000 global ERP, WMS and TMS systems.
The transportation industry is both a major contributor to global energy consumption and is notoriously inefficient. Transporeon furthers Trimble's sustainability offering by helping to reduce under-utilized carrier capacity and "empty miles," and to enhance the tracking, reporting, and management of emissions.
The Transporeon business will be reported as part of Trimble's Transportation segment.
The transaction is expected to close in the first half of 2023, subject to customary closing conditions including regulatory approvals.