INTTRA is being acquired by cloud-based provider of networked supply chain solutions E2open.
INTTRA said in a statement that the combination of INTTRA’s ocean carrier and shipper network with E2open’s industry-leading business network will create a unified global logistics and supply chain network. E2open and INTTRA will join efforts to strengthen the connections and streamline the information flow between manufacturers, suppliers, shipping service providers, ocean carriers and participants in global trade.
E2open is the largest cloud-based provider of networked supply chain solutions. More than 70,000 partner companies and 200,000 users use the E2open network and platform to orchestrate their supply chains, “creating efficiencies measured in the billions”, said the statement.
“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,” said INTTRA chief executive officer John Fay. “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.”
The acquisition of INTTRA will extend E2open’s current logistics capabilities, consisting of transportation management, logistics visibility, and transportation forecasting, and a network of more than 3,500 large carriers across more than 40 countries to book, tender, track and invoice shipments. E2open with INTTRA and Avantida, will offer deep integrations with logistics service providers, from third-party, fourth-party, freight forwarders and NVOCCs, and carriers servicing all modes of transportation – air, road, rail and ocean.
“The combination provides value to all stakeholders – manufacturers, logistics service providers, freight forwarders and ocean carriers,” said E2open chief executive Michael Farlekas. “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. We will continue to strive to deliver on our vision of a networked platform on which our customers can operate their end-to-end operations in real-time.”
The transaction is expected to close by year end 2018 after receipt of regulatory approval.