Flexport has acquired Convoy’s technology stack, enhancing its position as a global logistics one-stop shop. While the terms of the deal remain undisclosed, a select group of Convoy team members specializing in product and engineering will join Flexport. Importantly, Flexport will not inherit Convoy’s liabilities or the entire company. 

Flexport intends to reinstate Convoy’s full-truckload service in the near future, with short focus on serving as a comprehensive trucking service provider. This strategic move aims to create a seamless, end-to-end solution for global logistics. 

The acquisition leverages Convoy’s robust technology and extensive network of 400,000 truck drivers and 80,000 carriers to streamline and lower costs in Flexport’s truckload, drayage, and cartage operations. Flexport is committed to maintaining focus and discipline during the integration process, with a strong emphasis on achieving profitability and minimizing distractions. 

This acquisition positions Flexport to realize its vision of becoming an actual one-stop shop for shipping products globally. Stay tuned for more updates as Flexport embarks on this exciting chapter in its growth.

Inspired by: https://www.freightwaves.com/news/flexport-acquires-convoy-technology-stack-for-undisclosed-sum