Transporeon announced today the acquisition of TNX Logistics, an innovative start-up in the field of autonomous procurement. Founded in 2016, TNX offers a turn-key data science powered platform for road transport. The company’s software allows shippers and forwarders to autonomously procure up to 90% of spot volume. To do so TNX uses data and behavioral science to equally support shippers, forwarders and carriers to better match capacity in an increasingly dynamic market.
Artificial Intelligence and Big Data are more and more impacting the logistics industry. As a digital logistics platform Transporeon is continuously working on increasing process efficiencies and matchmaking capabilities on the platform with the goal to benefit all parties in the network.
A growing number of shippers, forwarders and carriers move away from long-term rigid assignment strategies and build competencies for more dynamic and fully automated approaches (spot-market, spot-tenders increasing etc.). Pricing in logistics is historically less mature than in other sectors due to fragmentation and low degree of digitalization. Over the last 18 months Transporeon has increasingly invested in this area, with products like price prediction, lane 360 and its smart transport allocation initiative. TNX’s autonomous procurement service will provide a logical enhancement of Transporeon’s Ticontract tendering offering as well as its spot assignment product Transporeon Best Carrier. It will also provide an entry service to connect onto its digital platform.
“We are excited to welcome the outstanding TNX team to our Transporeon community. Combining TNX’s autonomous procurement services with our leading digital platform will provide significant added value to our customers”, says Stephan Sieber, CEO of Transporeon. “TNX has built a strong product delivering strong results that are proven by several international forwarders as well as shippers achieving significant improvements in their spot buying strategies.”
TNX Logistics Founder and CEO Jonah McIntire says: “By joining the Transporeon Group, we see huge growth possibilities for our business as well as attractive opportunities for our international team of experts. We are looking forward to joining forces with Europe’s premier network for logistics.”
