Cloud-based supply chain technology provider E2open announced plans to acquire container shipping booking platform INTTRA.
“E2open and INTTRA will join efforts to strengthen the connections and streamline the information flow between manufacturers, suppliers, shipping service providers, ocean carriers and all the participants in global trade,” a joint statement reads.
Founded in 2001 as a joint venture between CMA-CGM, Hamburg Sud, Hapag-Lloyd, Maersk Line, MSC, and UASC to create a standard electronic booking system for the ocean freight industry. The company has more than 35,000 active shippers, 60 carriers and 150 integrations with transportation management and port system software partners. It is estimated that one out of every four ocean containers shipped globally is booked through the INTTRA platform.
“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 John Fay, chief executive officer of INTTRA.
As explained by Fay, in joining forces with E2open, the duo envisions a single platform with accelerated innovation to connect, streamline, and operate all aspects of global manufacturing, logistics, and distribution.
In March 2017, INTTRA acquired Avantida to extend ocean movements into land-based activities and address container reuse and repositioning for ocean carriers, transport companies, terminals, and depots.
E2open said that together with INTTRA and Avantida, it 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.
“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,” Michael Farlekas, chief executive officer of E2open, added.
The transaction is expected to close by year end 2018 after receipt of regulatory approval.