FOURKITES ACQUIRES EUROPEAN SUPPLY CHAIN VISIBILITY PROVIDER NIC-PLACE

KUALA LUMPUR, Jan 19 -- FourKites, provider of the world’s #1 real-time supply chain visibility platform, has announced acquiring leading European supply chain visibility provider NIC GmbH (NIC-place).

The combined over-the-road, rail and ocean carrier networks of FourKites and NIC-place will create the largest multimodal carrier network in Europe, ready to serve global shippers with the most comprehensive end-to-end global supply chain visibility platform.

The acquisition will also accelerate the adoption of secure real-time visibility solutions specifically designed for carriers, while shortening the time to value for shippers with complex, multimodal carrier networks.

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“NIC-place boasts the only carrier-focused visibility solution on the market; the most advanced rail tracking features in Europe; and unmatched expertise in high-value and temperature-controlled shipments,” said FourKites founder and CEO Mathew Elenjickal in a statement.

“This acquisition creates a powerhouse of carrier and shipper-focused expertise that accelerates end-to-end visibility and the delivery of new solutions tailor-made for our customers’ unique requirements.”

The acquisition will help accelerate much-needed supply chain visibility across Europe. According to a recent research report on the state of European supply chains by Reuters and FourKites, 78 per cent of European companies indicated that end-to-end freight traceability was their biggest supply chain pain point.

“We are thrilled to join forces with FourKites, the pioneer and market leader in real-time supply chain transport visibility, and the pace-setter for innovation and end-to-end multimodal coverage,” said Pete Jendras, Founder and Managing Director of NIC-place.

FourKites, whose acquisition of NIC-place comes on the heels of record growth for both companies as they address the challenges fuelled by the ongoing global supply chain crisis, will showcase the NIC-place solution and the value it brings to both carriers and shippers in a live webinar on Feb 16. 

More details at https://www.fourkites.com/.

-- BERNAMA