Nascent Technology LLC has purchased Smart Track Logistics Inc., a cloud-based supply chain management company across a variety of industries, for its complementary technology. Financial terms of the deal were undisclosed.
Smart Track, based in Jacksonville, Florida, is a service provider of on-demand logistics transportation management, freight planning, and scheduling for the pharmaceutical, retail, government and manufacturing industries. The target’s cloud-based Nimbus Connect technology, designed and priced for smaller and mid-size operations, helps clients with transportation tracking and inbound and outbound dock management. Nascent believes that Smart Track’s software aligns well with the buyer’s existing readyAGS technology.
"Through its innovative Nimbus Connect product offering, Smart Track has captured a segment of the warehousing and distribution market that has been largely ignored,” states Nascent COO Michael Bratt. "As we look for opportunities to expand our offerings in cost-effective cloud-based technologies for logistics and supply chain management, acquisitions like this one just make sense."
Nascent, founded in 1996, is a transportation management service provider based in Charlotte, North Carolina. The buyer’s technology, readyAGS, is one of the first automated gate systems for the intermodal transportation industry. Nascent executives believe the acquisition of Smart Track will help bolster the adoption of readyAGS among distribution centers, beneficial cargo owners and warehouses.
"In a mobile-app-crazed environment where there are too many short-lived, 'one-hit wonders', we strive to differentiate ourselves through offering well thought-out, comprehensive solutions,” states Bratt. “Combining the strengths of SmartTrack's Nimbus Connect product with the existing capabilities of readyAGS will help us do just that."
Logistics companies have become attractive targets as the e-commerce market continues to grow. Recent logistics deals include: American Fast Freight Inc. purchasing Global Transportation Services Inc.; NFI acquiring United Express; Lineage Logistics LLC buying refrigerated warehouse giant Consolidated Distributed Corp.; Atlas Air Worldwide Holdings Inc. (Nasdaq: AAWW) buying air cargo company Southern Air Holdings Inc.; Graycliff Partners investing in Installs Inc. LLC, a logistics service provider for setting up televisions and home theatres; and C.H. Robinson Worldwide Inc. agreeing to buy APC Logistics for $225 million.