Ryder System, Inc. (NYSE: R), a Miami, FL-based provider of a supply chain, dedicated transportation, and fleet management solutions, acquired Baton, a San Francisco-based startup known for the development of a proprietary logistics technology focused on optimizing transportation networks.
The amount of the deal was not disclosed.
The acquisition, finalized on August 31, is an extension of Ryder’s collaboration with Baton, after Ryder’s corporate venture capital fund RyderVentures invested in the tech firm early last year. Andrew Berberick and Nate Robert, cofounders of Baton, join Ryder as co-chief product and technology officers for the 3PL’s supply chain and dedicated transportation businesses. They bring their core development team to further develop Ryder’s portfolio of technology products. Karen Jones, chief marketing officer of Baton is now head of new product development for Ryder.
Led by Robert Sanchez, chairman and chief executive officer, Ryder System is a logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, the company manages nearly 239,000 commercial vehicles and operates more than 330 warehouses, encompassing more than 80 million square feet.
FinSMEs
02/09/2022